Trump tariffs of 25% on steel and aluminium come into effect globally as Europe says it will retaliate – business live | Trump tariffs

The European Commission said on Wednesday it would impose “countermeasures” starting from 1 April in response to US tariffs of 25% on steel and aluminium imports.

European Commission chief Ursula von der Leyen said in a statement that Brussels would be “launching a series of countermeasures” in response to the “unjustified trade restrictions”.

Hello and welcome to our live coverage of the global response to Donald Trump’s new tariffs. The 25% global tariffs on steel and aluminium came into effect at midnight ET “with no exceptions or exemptions”.

The European Commission responded almost immediately, saying it would impose counter tariffs on €26bn ($28bn) worth of US goods from next month.

“We deeply regret this measure,” European Commission chief Ursula von der Leyen said in a statement about the US tariffs, as Brussels announced it would be “launching a series of countermeasures” in response to the “unjustified trade restrictions”.

Australian deputy prime minister Richard Marles said on Wednesday the lack of exemptions was “really disappointing”, calling tariffs “an act of kind of economic self-harm”. He told radio station 2GB: “We’ll be able to find other markets for our steel and our aluminium and we have been diversifying those markets.”

You can read the full story here and stick with us for all the developments as they unfold.