The European Union is poised to implement retaliatory tariffs on $28 billion

The European Union is poised to implement retaliatory tariffs on $28 billion of American goods, which include products such as bourbon, semiconductors, and toilet paper, as a direct countermeasure to the tariffs imposed by Trump on EU steel, aluminum, and automobiles.

Trump's tariffs affect more than 70% of EU exports to the United States, which amounted to $585 billion last year. In response, Brussels is joining China and Canada in intensifying the ongoing global trade conflict.

EU officials are advocating for a unified approach: while Paris is calling for a pause on investments, Ireland is advocating for caution, and Italy is questioning the need for retaliation. Nevertheless, a bloc-wide vote scheduled for Wednesday is anticipated to approve the new tariffs.

The implementation of these tariffs will occur in two phases, beginning on April 15. Trump has already issued a warning of potential 200% counter-tariffs if the EU proceeds with its plans.

Reuters, Brussels Morning