EU threatens retaliation against U.S. tariffs with new import duties

The European Union (EU) says it will respond to U.S. tariffs on steel and aluminium imports by reintroducing tariffs on U.S. products including whiskey, motorcycles, peanut butter and boats in April.
The European Commission said in a memo that the countermeasures would aim to “protect European businesses, workers, and consumers” from the impact of U.S. tariffs.
U.S. imposed tariffs of up to 25 per cent on imports of steel, aluminium and some products containing the metals.
According to the commission, the new U.S. tariffs would affect EU exports worth €26 billion ($28.3 billion).
This is roughly five per cent of EU’s total exports to the U.S., resulting “in U.S. importers having to pay up to €6 billion in additional import tariffs”.