• Contact
  • Jobs
Saturday, June 14, 2025
  • Login
No Result
View All Result
Diplomatic Watch
  • About Us
    • Editorial
    • Opinion
    • Interview
    • Contact
  • Diplomacy
    • Appointments
  • Economy
  • Regions
    • Africa
    • Americas
    • Asia
    • Europe
    • Oceania
  • Business
  • Politics & Policy
  • Opinion
  • Events
  • News Update
    • Fashion & Lifestyle
    • Health
    • Sports
    • Technology
  • About Us
    • Editorial
    • Opinion
    • Interview
    • Contact
  • Diplomacy
    • Appointments
  • Economy
  • Regions
    • Africa
    • Americas
    • Asia
    • Europe
    • Oceania
  • Business
  • Politics & Policy
  • Opinion
  • Events
  • News Update
    • Fashion & Lifestyle
    • Health
    • Sports
    • Technology
No Result
View All Result
Diplomatic Watch
No Result
View All Result
Home Economy

Trade Tensions Escalate as EU Threatens to Retaliate Against U.S. Tariff on steel and aluminum

Seun Okewoye by Seun Okewoye
February 12, 2025
Reading Time: 2 mins read
0
Trade Tensions Escalate as EU Threatens to Retaliate Against U.S. Tariff on steel and aluminum
Share on FacebookShare on Twitter

ALSO READ

The IDB’s Quiet Revolution: How Latin America’s Largest Development Bank Is Tapping Private Capital

The IDB’s Quiet Revolution: How Latin America’s Largest Development Bank Is Tapping Private Capital

June 9, 2025
Uzbekistan’s Energy Overhaul: Measurable Gains and Public Engagement

Uzbekistan’s Energy Overhaul: Measurable Gains and Public Engagement

June 8, 2025

The European Union has vowed to retaliate against the United States after new tariffs on steel and aluminum were imposed, threatening to ignite an extended global trade war.

European Commission President Ursula von der Leyen denounced the decision, saying, “Unfairly imposed tariffs on the EU will not be left unanswered — they will incur firm and proportionate retaliation.” The European Commission, the EU’s executive arm, is now weighing its response.

The alert comes after United States President Donald Trump inked an executive order slapping 25% tariffs on imported steel and aluminum. The action led to a rally in the shares of U.S. steel producers on Monday because domestic producers will gain an advantage from the trade policy.

Economic Impact of the Tariffs
Tariffs are a tax on imports that raise the cost for foreign producers and improve domestic options. Opponents, nevertheless, like von der Leyen, claim that in the end this damages business and consumers by raising costs.

Trump has been very much on the attack when it comes to trade policy early in second term, imposing tariffs already on China, Canada, and Mexico. Though tariffs on Canada and Mexico have been delayed temporarily by a month, things are escalating with the EU.

Europe is not the only economic powerhouse fighting back. China recently slapped new tariffs on certain U.S. imports, once again escalating the tensions on the trade front.

Diplomatic Talks & Inflation Fears
Von der Leyen will meet U.S. Vice President JD Vance on Tuesday to discuss the issue, according to Reuters.

The tariff war is unfolding against a backdrop of global inflation concerns, with domestic prices still below pre-pandemic levels. Economists worry that tariffs would increase costs further, stoking inflationary pressures in the U.S. as well as abroad.

Though retaliatory actions from key world actors are in the works, the risk of a protracted trade war remains a real threat to the global economy.

ADVERTISEMENT
Seun Okewoye

Seun Okewoye

Seun is a website developer, a financial market analyst, trader and fund manager

Related Posts

The IDB’s Quiet Revolution: How Latin America’s Largest Development Bank Is Tapping Private Capital
Business & Investment

The IDB’s Quiet Revolution: How Latin America’s Largest Development Bank Is Tapping Private Capital

June 9, 2025
Uzbekistan’s Energy Overhaul: Measurable Gains and Public Engagement
Asia

Uzbekistan’s Energy Overhaul: Measurable Gains and Public Engagement

June 8, 2025
ADVERTISEMENT

About us

Diplomatic Watch Magazine is a premium publication that covers news, analysis, and opinion on global diplomacy, international relations, and foreign policy.

Category

  • Business & Investment (134)
  • Culture & Tourism (133)
  • Diplomacy (1,089)
    • Appointments (35)
  • Economy (92)
  • Editorial (3)
  • Events (201)
  • Interview (55)
  • News Update (309)
    • Fashion & Lifestyle (15)
      • Look Your Best With Jane Pennewell (7)
    • Health (12)
    • Sports (21)
    • Technology (54)
  • Opinion (45)
  • Photo Gallery (10)
  • Politics & Policy (85)
  • Regions (252)
    • Africa (50)
    • Americas (56)
    • Asia (93)
    • Europe (85)
    • Middle East (27)
    • Oceania (23)

Contact Us

Diplomatic Watch HQ

  • – 1218 16th St NW, (5th Floor) Washington, DC 20036, USA
  • – Maryland
  • – Lagos
  • – Abuja

Contact Information

  • Tel: +12407979135
  • Email: info@diplomaticwatch.com
  • About Us
  • Careers
  • Contact

© 2024 Diplomatic Watch Magazine - All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • About Us
    • Editorial
    • Opinion
    • Interview
    • Contact
  • Diplomacy
    • Appointments
  • Economy
  • Regions
    • Africa
    • Americas
    • Asia
    • Europe
    • Oceania
  • Business
  • Politics & Policy
  • Opinion
  • Events
  • News Update
    • Fashion & Lifestyle
    • Health
    • Sports
    • Technology