15:42, 06-Mar-2018
US Trade Tariffs: Sharp global reaction to proposed tariffs on steel and aluminum
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US markets recovered on Monday, reversing last week's losses over a possible trade war. But Europe, Asia and the rest of the Americas, remain alarmed over President Donald Trump's plan to raise tariffs on steel and aluminum. Ali Arouzi has more on their reaction, from London.
"It will be 25% for steel, 10% for aluminum."
Unsurprisingly President Trump's proposed tariffs are not being received well here in the U.K. or through Europe, criticism coming from governments that are both allies and adversaries of America.
France and Germany have expressed grave concerns, warning they won't sit idly by if import taxes are enacted.
But Trump has threatened a 25% tax on European cars if they try and retaliate. That would be a huge blow to German brands like BMW and Mercedes, the U.S. is their most lucrative export market.
Threats are coming in from Brussels too, the European commission president saying the block was prepared to respond forcefully by targeting U.S. imports like Harley Davidson, Levis jeans and Bourbon whiskey.
China, Canada, Brazil, Mexico and Japan have said they will consider retaliatory steps if the president presses ahead with the tariffs.