US Doubles Steel and Aluminium Tariffs to 50%, EU Retaliation Risks Rise – Commerzbank

Trump’s Tariff Hike Raises Tensions and Dims US-EU Trade Deal Prospects

On Friday, President Donald Trump announced plans to double tariffs on steel and aluminium imports from 25% to 50%. This move intensifies trade tensions, particularly with the European Union, which has responded with strong warnings of retaliatory tariffs.

EU Retaliation and Trade War Risks Increase as Deal Chances Fade

The EU had initially delayed retaliatory tariffs for 90 days to allow for trade talks but now signals that prospects for a deal are worsening. Commerzbank analysts note the tariff increase appears arbitrarily set, raising concerns about the viability of a comprehensive trade agreement amid escalating country- and product-specific tariffs.

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