Trump Intensifies Trade War with New Tariff Threats**

The escalating trade conflict sees Trump imposing new tariffs on steel and aluminum, prompting strong counteractions from Canada and the EU, while financial markets react to the uncertainties surrounding economic stability.**

US President Donald Trump has intensified the ongoing trade war by announcing plans for more tariffs following retaliatory actions from Canada and the European Union (EU). The latest moves come just after Trump imposed a blanket 25% tariff on imported steel and aluminum, eliminating exemptions granted to certain nations. This development prompted Canada and the EU to respond with their tariffs on various US products, further complicating the global trade atmosphere.

Trump, unwavering in his position, stated, “Whatever they charge us with, we're charging them,” indicating that reciprocal tariffs are forthcoming. His latest tariff measures also come alongside increased tariffs on Chinese imports, with rates now reaching a minimum of 20%.

Amid this escalating situation, leaders from affected nations criticized the US measures. Canada is set to impose a 25% tax on approximately C$30 billion worth of US goods. European leaders are not backing down either, with the EU poised to implement higher tariffs on around €26 billion worth of American products starting April 1.

EU President Ursula von der Leyen emphasized the importance of a balanced response, stating, “Tariffs are taxes. They are bad for business and worse for consumers.” The economic implications of such tariffs could potentially lead to job losses and increased prices for consumers on both sides of the Atlantic.

As the pressure mounts, business leaders in the US are requesting exemptions for certain imports critical to food production, expressing concerns over rising costs. Notable companies have reached out to Trump, pleading to exempt certain ingredients, citing domestic shortages.

Meanwhile, US stock markets displayed mixed results amidst the uncertainty, reflecting investor concerns about the ramifications of the ongoing conflict. Trump reiterated his stance at a recent White House event, expressing his dissatisfaction with EU trade practices and hinting at further retaliatory measures.

The current state of global trade remains fraught with tension as countries brace for the unfolding consequences of this dispute, which continues to impact both economies and consumers worldwide.