Several U.S. trading partners, including the European Union (EU), Canada and Vietnam, have voiced strong criticism and opposition to Washington's decision to raise tariffs on imported steel and aluminum from 25 percent to 50 percent starting from Wednesday, warning of potential disruptions to global trade.
The European Steel Association (EUROFER) warned on Wednesday that the U.S. move could destabilize markets, noting that the tariff increase might divert 27 million metric tons of steel originally destined for the U.S. to European markets.
EUROFER highlighted that tariff hikes come amid record-high global overcapacity, with import penetration in the EU already at 30 percent, making the region vulnerable to an influx of foreign steel.
Without immediate action, the European steel industry will risk being overwhelmed, the association cautioned.
Canadian Prime Minister Mark Carney said on Wednesday that Ottawa is engaged in "deep discussions" with Washington to reverse the "unjustified and illegal" steel and aluminum tariff hikes, adding that the U.S. measures lack any legal or justified basis.
On the same day, Canada's Ontario Premier Doug Ford renewed his call for the Canadian federal government to intensify countermeasures, proposing a 25 percent retaliatory tariff on U.S. steel imports.
Vietnam's Ministry of Industry and Trade confirmed on Thursday that it had submitted a response to U.S. trade demands, though it did not disclose specifics.
According to a statement released by the ministry, Minister Nguyen Hong Dien met with U.S. Trade Representative Jamieson Greer on Wednesday in Paris. During the meeting, the two sides talked about preparations for the third round of bilateral trade talks that are scheduled before next weekend.
U.S. trading partners condemn steel, aluminum tariff hikes
Iranian Foreign Minister Seyed Abbas Araghchi said on Monday that the situation in Iran is "under total control" following violence linked to protests that spiked over the weekend.
Addressing foreign diplomats in Tehran, the foreign minister noted that armed terrorist groups had infiltrated the protests, attempting to divert them from their legitimate course. He claimed that evidence has been gathered showing Iranian security forces being shot at, with the aim of causing further casualties. He accused the United States and Israel of exploiting the unrest to interfere in Iran's internal affairs.
Araghchi further stated that the government is closely monitoring developments on the streets, emphasizing that "the situation has come under control." He also affirmed that internet services, curtailed during the unrest, would be restored after coordination with security agencies.
The government has engaged in dialogue with merchants and protest representatives and initiated reforms to address grievances related to price hikes and currency depreciation. Iran has taken a series of actions and measures to respond to the demands of peaceful demonstrators, the foreign minister said.
Earlier on Sunday, Araghchi said that clear evidence links recent riots and vandalism of public facilities in Iran to the Israeli intelligence agency Mossad. This came after former U.S. Secretary of State Mike Pompeo mentioned Mossad agents operating on Iran's streets in a social media post. The Iranian foreign minister asserted that police are being attacked by "terrorists" acting under the direction of Israeli operatives, whom Pompeo publicly acknowledged.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and U.S. sanctions.
Iranian foreign minister says situation "fully under control," accuses Israeli intelligence of stoking unrest
