Canada And The European Union Announce Retaliatory Tariffs Against The U.S.

Combined, the new tariffs will cost companies billions of dollars, and further escalate the uncertainty in two of the world's major trade partnerships.

Authorities in Canada and the European Union announced a new round of tariffs on American goods after the Trump administration introduced higher levies on steel and aluminum imports. Canada said on Wednesday that it would impose 25 percent reciprocal tariffs on steel products,