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.

U.S. President Donald Trump signed proclamations late on Monday to raise tariffs on all steel and aluminium imports to 25% without exceptions or exemptions. A White House official confirmed that the measures would take effect on March 4.

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