President Donald Trump signed an order Monday imposing global tariffs of 25% on all steel and aluminum imports in a move that will likely please domestic steelmakers but hurt allies like Canada and Mexico.

Mexico, Canada and the European Union on Tuesday condemned U.S. President Donald Trump's decision to impose tariffs on all steel and aluminum imports next month, a move that has fanned fears of a trade war as business and political leaders braced for yet more trade duty announcements from the new administration.

The European Union plans to safeguard its economic interests by imposing countermeasures in response to the U.S. tariffs, according to EU officials.