- Donald Trump announced plans to impose further tariffs on European Union goods, escalating global trade tensions.
- This follows a 25% duty on all US steel and aluminium imports, straining relations with key trading partners.
- Canada, the largest foreign supplier of steel and aluminium to the US, has retaliated with tariffs on American goods worth $20 billion.
- The EU's planned countermeasures could impact up to $28 billion worth of US goods, including dental floss and bourbon.
- UN Secretary General Antonio Guterres warned that trade conflicts would result in losses for all involved.
Source: Business News India, News 18, Moneycontrol, Mint
