On March 12, US President Donald Trump imposed a 25% tariff on aluminum imports from all countries, including India. In response, Canada and the European Union have announced retaliatory tariffs, while the UK stated that all options are open. The Indian government has not yet responded to the decision by the Trump administration. However, the Indian government has previously mentioned that it has taken significant steps to protect domestic manufacturers.

Global Reactions to Trump's Decision

In response to Trump's decision, Canada and the European Union have announced retaliatory tariffs. The UK has also said that all options are open. Meanwhile, the Indian government has not yet provided an immediate reaction to the decision. However, the government has stated that it has taken important steps to protect domestic manufacturers.

Trump's Move to Disrupt Global Trade

Trump has removed all exemptions from the 2018 tariffs on metals and raised the tariff on aluminum from 10% to 25%. This move is part of a broader effort to disrupt and change global trade. He has imposed separate tariffs on Canada, Mexico, and China.

Higher Tariffs Will Be More Effective

On Tuesday, Trump told CEOs of various companies that the tariffs were encouraging companies to invest in US factories. Despite a potential decline in growth due to an 8% drop in the S&P 500 index last month, Trump's optimism remains. He believes that higher tariffs will have a greater impact on bringing factories back, creating jobs in the process.

EU's Retaliation

The European Union has announced retaliatory measures against the US tariffs. The EU stated it will impose a $28 billion tariff on US imports, which will include not just steel and aluminum products, but also textiles, home appliances, and agricultural products. This will affect items such as motorcycles, peanut butter, and jeans.

Canada's Response with Counter-Tariffs

According to Reuters, Canadian Finance Minister Dominic LeBlanc stated that Canada would impose a counter-tariff of $20 billion on US imports, effective from Thursday. Canada's retaliation will impact products such as computers, sports equipment, and raw iron. Canada is the largest exporter of steel and aluminum to the United States.

China and Japan's Reactions

China's Ministry of Foreign Affairs has stated that Beijing will take all necessary steps to protect its rights and interests. Japan's Chief Cabinet Secretary, Yoshihide Suga, expressed concerns that this move could have a major impact on US-Japan economic relations.

Australian PM Calls US Tariffs Unfair

Australian Prime Minister Anthony Albanese said that the US tariffs on Australia's steel and aluminum are unfair. However, his government has stated it will not retaliate.

UK's Response and Consideration of All Options

UK Prime Minister Keir Starmer has stated that all options will be considered. He told Parliament that, like everyone else, he is disappointed with the global tariffs on steel and aluminum, but the UK will adopt a practical approach.

India's Steps to Protect Domestic Manufacturers

The Indian government has said that it has taken significant steps to protect domestic steel manufacturers and strengthen the competition in the steel industry. This comes after the US announced on March 12 that it would impose a 25% tariff on steel and aluminum products under the Most Favored Nation (MFN) basis.