Trump Risks $3.45 Billion Tariff Bill From Jilted Trade Partners
- Nations prepare to retaliate against U.S. metals levies
- European Union threatens additional $1.6 billion in duties
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President Donald Trump’s maximalist approach in recasting his nation’s trade relations may soon hit U.S. farmers and manufacturers, as America’s trade partners prepare retaliatory tariffs that could generate $3.45 billion in revenue.
In just the past week, the European Union threatened $1.6 billion of additional levies in response to U.S. tariffs on metal imports; Russia prepared $537.6 of added duties; Turkey $266.6 million; Japan $264.3 million; and India $165.6 million, according to filings with the World Trade Organization. China already imposed $611.5 million of additional retaliatory tariffs.