U.S. faces backlash over new steel and aluminum tariffs [Video]

President Donald Trump’s new tariffs on steel and aluminum imports have triggered a multi-billion dollar trade conflict with key U.S. allies.”We have been abused really for a long time. And we will be abused no longer,” President Donald Trump said Wednesday while discussing 25% tariffs on steel and aluminum imports.”We’re going to take back our wealth, and we’re going to take back a lot of the companies that left,” President Trump said.In response, Canada and the European Union have imposed their own tariffs on U.S. products.”At the end of the day, what we want is for the Americans to back off,” Canadian Minister of Foreign Affairs Mélanie Joly said.Canada, the largest supplier of steel and aluminum to the U.S., has imposed over $20 billion in retaliatory tariffs on U.S. products, including computers, farm equipment, and cast-iron products.The European Union has also imposed a $28 billion tax on U.S. exports, targeting …