The European Union estimates that the first wave of Donald Trump’s steel and aluminum tariffs will hit as much as €28 billion ($29.3 billion) of the bloc’s exports in what would be a massive escalation in the US president’s trade war.

On Feb. 10, 2025, just a week after announcing country-specific, blanket tariffs on Canada, Mexico, and China, President Trump implemented his America First Trade Policy, signing two proclamations: Adjusting Imports of Steel Into the United States and Adjusting Imports of Aluminum Into the United States.

President Donald Trump on Monday imposed a 25% tariff on all steel and aluminum imports into the United States with no exceptions or exemptions.