Europe’s Retaliation Takes U.S. Trade Tensions to the Next Level
- EU imposes retaliatory levies on $3.3 billion of U.S. goods
- Splits emerging in White House over threats to economy
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The European Union’s retaliatory tariffs on U.S. products came into force on Friday, the latest shots fired in what increasingly looks like a global trade war.
The EU, the world’s largest trading bloc, imposed levies on 2.8 billion euros ($3.3 billion) of American products in response to U.S. duties on its steel and aluminum exports that were justified on national security grounds.