EU threatens retaliation over Trump's steel tariffs hike

Brussels | The European Commission said on Saturday (Sunday AEST) that Europe was prepared to retaliate against President Donald Trump's plan to double tariffs on imported steel and aluminium, raising the prospect of an escalating trade fight between two of the world's largest economic powers. Trump's announcement on Friday that he would increase tariffs on imported steel and aluminium to 50 per cent from 25 per cent intensifies his global trade war, and came just hours after he accused China of violating an agreement with the US to mutually roll back levies and trade restrictions for critical minerals. Loading… Reuters