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PBS News Hour - Segments

Canada and EU announce retaliatory tariffs, escalating Trump’s trade war

PBS News Hour - Segments

PBS NewsHour

News, Daily News

4.11K Ratings

🗓️ 12 March 2025

⏱️ 5 minutes

🧾️ Download transcript

Summary

The trade war between the U.S. and dozens of countries escalated yet again Wednesday. Canada and the European Union announced their own tariffs designed to inflict economic pain and pressure on America. But President Trump said he would not be deterred from his campaign. Stephanie Sy reports. PBS News is supported by - https://www.pbs.org/newshour/about/funders

Transcript

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0:00.0

Welcome to the NewsHour. The trade war between the U.S. and dozens of countries escalated yet again today.

0:07.6

Canada and the European Union announced their own tariffs designed to inflict economic pain and pressure on America.

0:14.2

But President Trump said he would not be deterred from his campaign to get better and more fair trading agreements over time.

0:22.0

Stephanie Syne begins with this report.

0:25.0

The European Union must act to protect...

0:28.7

Today, U.S. allies punched back.

0:31.5

The countermeasures we take today are strong but proportionate.

0:36.3

This morning, European Union Commission President Ursula von der Leyen

0:40.6

announcing tariffs on U.S. goods totaling some $28 billion. They're sent to take effect in two

0:47.5

stages, starting April 1st, and cover a wide range of products from textiles to home appliances

0:54.0

to agricultural goods.

0:55.7

The EU is targeting many products made in Republican-held states like beef, poultry, and bourbon.

1:04.2

But von der Leyen said there's still time to reverse course.

1:07.9

We will always remain open to negotiations.

1:12.5

We firmly believe that in a world fraught with geo-economic and political uncertainties, it is

1:20.8

not in our common interest to burden our economies with such tariffs.

1:27.1

Meanwhile in Canada. We're hitting back against these

1:31.0

unjustified U.S. tariffs. 25% reciprocal tariffs take effect tomorrow on more than $20 billion

1:38.4

worth of steel, aluminum, and other U.S. imports. That's in addition to the 25% tariffs Canada imposed last week

1:47.4

on $30 billion worth of U.S. goods. During the announcement today, Canada's foreign affairs

1:54.1

minister spoke directly to Americans. Canada is not the one driving up the cost of your groceries

2:00.4

or of your gasoline or any of your construction.

...

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