Trump’s tariffs on steel, aluminum go into effect

President Donald Trump’s 25% tariff increase on all steel and aluminum imports officially took effect on Wednesday, the latest move in the administration’s plans to reshape global trade norms in favor of U.S. manufacturing. The action prompted retaliation from the European Commission, which announced shortly after Trump's tariffs took effect that it would impose counter tariffs on the equivalent of $28 billion worth of U.S. goods starting next month. "We regret the unjustified US 25% tariff on steel and aluminium imports. The EU will protect its consumers and businesses," the Commission said in a statement. "We are launching swift, proportionate countermeasures worth up to ($28 billion), matching the economic impact of the US tariffs."