US President Donald Trump has said “trade wars are good”, amid controversy over his decision to impose tariffs on steel and aluminium imports.
He tweeted that the US was “losing billions of dollars on trade” and would find a trade war “easy to win”.
On Thursday he said steel imports would face a 25% tariff and aluminium 10%.
Canada and the EU said they would bring forward their own countermeasures. Mexico, China and Brazil have also said they are considering retaliatory steps.
Critics argue that the tariffs would fail to protect American jobs and would ultimately put up prices for consumers.
The news sent shares in both Asia and Europe down on Friday.
