EU Strikes Back with $28 Billion in Tariffs Following Trump's Trade Measures

The European Union announces retaliatory tariffs targeting iconic U.S. products after new U.S. duties on steel and aluminum take effect.

• The U.S. implemented 25% tariffs on steel and aluminum imports from the EU, China, Canada, and other nations as of March 12, citing the need to protect domestic industries.
• In response, the EU plans to impose $28 billion in tariffs starting April 1, targeting American goods like bourbon, Harley-Davidson motorcycles, and agricultural products from Republican-leaning states.
• The EU's retaliation is designed to match the economic impact of the U.S. tariffs while leaving room for negotiation with the Trump administration.
• Other nations, including Canada and China, have also announced countermeasures, while countries like Brazil and Mexico are opting for cautious dialogue before committing to retaliatory actions.
• The escalating trade conflict raises concerns about broader economic repercussions, with financial markets already showing signs of instability.

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