Tariff Tensions: U.S. Risks Global Trade War

The United States has decided to reimpose tariffs on aluminium and steel imports, sparking concerns of a global trade conflict. EU trade commissioner Maros Sefcovic criticized the move, labeling it a lose-lose situation but stressed the EU's commitment to negotiating a beneficial solution with the U.S.

The United States has taken a controversial step by reintroducing tariffs on aluminium and steel imports, raising fears of an impending global trade war, as highlighted by EU trade commissioner Maros Sefcovic in a speech to the European Parliament on Tuesday.

President Donald Trump's decision to set a 25% tariff on these imports aims to rejuvenate the sluggish American industry. However, it has been met with international criticism as it poses the risk of escalating trade tensions worldwide without any exemptions in place.

Sefcovic expressed his concerns, calling the tariffs a detrimental approach. Nevertheless, he emphasized the European Union's dedication to working toward a mutually advantageous agreement with the United States to swiftly resolve the issue.

(With inputs from agencies.)