Oil prices edged up to a two-week high on Tuesday as sanctions raised concerns about Russian and Iranian oil supplies and on rising Middle East tensions, outweighing worries that trade tariffs would boost inflation and dampen global economic growth.

U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger tough countermeasures from the 27-nation

European Union chief Ursula von der Leyen vowed on Tuesday that U.S. tariffs on steel and aluminum “will not go unanswered,” adding that they will trigger tough countermeasures from the 27-nation bloc.

European Union chief Ursula von der Leyen vowed on Tuesday that U.S. tariffs on steel and aluminum “will not go unanswered,” adding that they will trigger tough countermeasures from the 27-nation bloc.

President Donald Trump announced on Monday that he would implement tariffs of 25 percent on all steel and aluminum imports to the United States.

Wall Street held relatively firm on Tuesday following President Donald Trump’s latest tariff escalation and after the Federal Reserve hinted interest rates may not change for a while. The S&P 500 was virtually unchanged and edged up by less than 0.

Stocks in Asia were mostly down Tuesday, after U.S. President Donald Trump imposed 25% tariffs on all U.S. imports of steel and aluminum

Trump says he will levy a 25% import tax on all steel and aluminium products entering the US from 12 March, meaning both sides have a month to negotiate. Canada is the top exporter of both metals to the US.