EU Hits U.S. with Retaliatory Tariffs as Trade War Escalates

The European Union has approved retaliatory tariffs of 10% to 25% on U.S. imports, set to begin next week. These include levies on items such as jeans and motorcycles, though U.S.-made whiskey is excluded. 

Further tariffs targeting beef, poultry, and citrus fruits will be imposed in mid-May and December. The move follows U.S. tariffs on steel and aluminum imports, affecting EU exports worth €26 billion. The EU has expressed a preference for negotiations but is preparing additional measures in response to U.S. car tariffs.