Nations denounce Trump tariff on metals and warn of retaliation

Tariffs on building materials raise the cost of housing, and consumers end up paying for the tariffs in the form of higher home prices,

the NAHB warned on its website

However, it is unlikely that the EU will get a quick and effective exemption from Washington's tariffs because President Trump likes more protectionism than alliances, does not respect the WTO, and deeply believes the EU is not competing fairly with the US, whether they are political allies or not,

she told China Daily

Many products exported by the US are made using imported raw materials. Tariffs would make the imports more expensive, which in turn would push up the prices of US exports, weakening the competitiveness of US products in global markets,

Cui said

The EU stands united in defending the interests of its businesses, workers and citizens,

European Council President Antonio Costa said on X, expressing solidarity with von der Leyen

However, these new measures — like the tariffs introduced by the first Trump administration — are neither well-founded nor do they do any good for the US,

said Yao Yang, director of the China Center for Economic Research at Peking University

Tariffs are taxes — bad for business, worse for consumers,

she said

Tariffs are not only harmful for the trading partners directly involved, but also risk having disruptive effects for many others, as well as the global trading system as a whole, ... it is a lose-lose scenario

he said, adding

To protect its interests, the EU must turn to cooperation with China to jointly respond to the ongoing challenge to world trade by the US because a united front of all 27 EU member states will not be enough,

she said

We're not looking to go ahead of the United States,

Finance Minister Dominic LeBlanc said Wednesday during a visit to Washington

I'll have second thoughts about that

he told AFP on the warehouse floor of North York Iron, a family-owned steel distribution business in Toronto started by his great-uncle more than 60 years ago

They're like brothers to us,

he said of US steel firms

The burden will be felt almost immediately because the US does not have the domestic capacity to be able to support its entire needs,

he added, suggesting

It's going to be very disruptive,

he told AFP, noting

Mexico made a ton of sense six months ago,

said the CEO of Husco, a producer of hydraulic components used in automotive and off-road equipment like bulldozers

But that hasn’t materialized at retail yet,

he said, noting

Most of these companies have a pretty good order backlog,

he noted

We’ve seen how things can change, ... so it’s really debilitating to make a decision."

he said

There are (iPhone) components that are manufactured in South Korea, these components are shipped from South Korea to China, where the stuff is assembled,

Poitiers said

The dollar is at the top of the pile,

said Elvire Fabry, a senior researcher in trade geopolitics at the Jacques Delors Institute, in Brussels

We have deficits with almost every country -- not every country, but almost -- and we're going to change it,

Trump vowed at the beginning of February, while announcing he would imposed fresh tariffs on Canada, Mexico and China