Global trade tensions escalate as EU and Canada impose retaliatory tariffs on US goods: Here’s what it means

The European Union and Canada have announced billions in retaliatory tariffs on US exports in response to President Donald Trumps steel and aluminum levies. The trade dispute raises concerns about economic slowdown, rising consumer prices, and global market instability. While some US allies hold back, key trading partners are preparing countermeasures to safeguard their industries.