Not even America’s closest trading partners were spared by a policy broadside that spooked investors and left policymakers scrambling to formulate responses.
President Trump’s trade war adds another challenge to the incoming government’s attempts to revive Europe’s biggest economy.
The president did not reveal the details of his plan to impose reciprocal tariffs the same day, but suggested he would move ahead with import taxes on trading partners.
Business leaders and investors remain on edge ahead of President Trump’s expected announcement of a sweeping new round of tariffs.