EU and Canada’s Retaliatory Tariff Movements and the US Trump Administration’s Response to Tariff Attacks

Understanding the Background and Situation

This trade war is intensifying as the United States imposes a 25% tariff on steel and aluminum imports worldwide. This measure, promoted by President Trump, is causing significant repercussions across the economy. Many economic experts are concerned about the increased burden on consumers in the United States and disruptions to the international supply chain. In this situation, the EU and Canada have responded by announcing retaliatory tariffs.

EU’s Retaliatory Tariff Strategy and Targeted Items

The European Commission plans to impose retaliatory tariffs on US products worth 26 billion euros (approximately 41 trillion won). The EU plans to apply tariffs in two stages from April 1 to 13, and the targeted items are diverse, including beef and poultry, computers and servers, and sports equipment. In particular, products symbolic of the United States, such as Harley Davidson motorcycles, bourbon whiskey, and Levi’s jeans, are included, which are expected to affect the Republican stronghold, a major support base in the United States.

Canada’s Response and Impact on the International Economy

Canada has also announced retaliatory tariffs of 29.8 billion Canadian dollars (approximately 30 trillion won) on US steel and aluminum products. Canada is one of the largest export destinations for the United States, and the economic impact of this tariff measure is expected to be significant. The Canadian government is maintaining a strategy of focusing on maintaining sovereignty and trade order while keeping the possibility of negotiations open. This movement is a factor that further complicates the international economy and the landscape of the trade war.

President Trump’s Response and Outlook

President Trump responded to the EU’s retaliatory tariffs by saying, “We will certainly respond,” emphasizing that the United States will win the “financial battle.” While responding to criticism of inconsistency in tariff issues with the word “flexibility,” it is expected that this flexibility will be greatly reduced once tariffs begin to be imposed. Jamieson Greer, the U.S. Trade Representative, also criticized the EU’s attitude, arguing that it has hindered the U.S.’s industrial revitalization efforts over the years.

Overall Economy and Trade War: Summary of Key Issues

This situation is an important issue that goes beyond a simple tariff imposition debate and affects the entire international economy. Economic experts are concerned that the US tariff policy is likely to pass the burden on to consumers through price increases by US companies. The retaliatory tariffs of the EU and Canada are also expected to add uncertainty to the global economic market in the long term, not just as a short-term trade war.

In particular, analyzing the current situation with a focus on major SEO keywords such as "economy," "trade war," "tariff," "retaliatory tariff," and "international economy" reveals how serious the impact of this situation is on each country's trade policies and the global market. It is time to closely examine future developments and negotiation processes.

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