By James Lynch | National Review
The European Union is enacting retaliatory tariffs against various U.S. products in response to President Donald Trump’s 25 percent steel and aluminum tariffs that went into effect Wednesday.
The EU tariffs will impact up to $28 billion of U.S. exports once they are implemented next month in two phases beginning April 1 and April 13. U.S. goods that will be impacted by the tariffs include steel and aluminum products, textiles, bourbon, motorcycles, and numerous agricultural products.
“We deeply regret this measure. Tariffs are taxes. They are bad for business, and even worse for consumers. These tariffs are disrupting supply chains. They bring uncertainty for the economy. Jobs are at stake. Prices will go up. In Europe and in the United States. The European Union must act to protect consumers and business,” European Commission president Ursula von der Leyen said in a statement.