EU prepared to retaliate to Trump's steel and aluminum tariff hikes

Trump plans to increase tariffs on imported steel and aluminum to 50% from 25%

steel and aluminum, the European Commission, raising the prospect of an escalating trade fight between two of the world's largest economic powers.

Europe is prepared to retaliate against US president Donald Trump's plan to double tariffs on imported steel and aluminum, the European Commission, raising the prospect of an escalating trade fight between two of the world's largest economic powers.

Mr Trump's announcement on Friday that he would increase tariffs on imported steel and aluminum to 50% from 25%, intensifies his global trade war and came just hours after he accused China of violating an agreement with the U.S. to mutually roll back levies and trade restrictions for critical minerals.