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The trade wars with Europe have begun

The trade wars with Europe have begun
[Photo: Chanaka/Pexels]

The European Union initiated its first salvo in retaliation for the Trump administration’s tariffs on steel and aluminum imported from the continent. The European Commission on Wednesday gave permission for a 25% duty on U.S. imports covering a range of products, including Harley-Davidson motorcycles, Levi Strauss jeans, U.S.-made playing cards, and bourbon whiskey, reports Bloomberg. The duties will cost over $3.2 billion to the U.S. economy and go into effect on Friday.

The new duties also include other categories of imported goods including various types of corn, rice, orange juice, cigarettes, cigars, T-shirts, cosmetics, boats, and steel, Bloomberg notes. Announcing the duties, European Trade Commissioner Cecilia Malmstrom said:

“We did not want to be in this position. However, the unilateral and unjustified decision of the U.S. to impose steel and aluminum tariffs on the EU means that we are left with no other choice.”

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