#EUvsTRUMP The EU is retaliating against Trump's tariffs on steel and aluminum with its own set of taxes on American goods, including whiskey, jeans and Harley-Davidson bikes, totaling $26 billion. This move is part of an escalating trade fight between the US and EU.
Key Points
- *EU's Response*: The EU is imposing new taxes on classic American goods as a response to Trump's tariffs on steel and aluminum.
- *Affected Products*: Whiskey, jeans, Harley-Davidson bikes and other American products will be subject to these new taxes.
- *Tech Giants*: The EU might also tighten rules on US tech companies like Apple, Google and Meta, focusing on data handling and operations.
- *Trade War Concerns*: This trade fight could escalate into a full-on trade war if both sides continue to push harder.
Potential Consequences
- *Trade Relations*: The EU and US have a significant trade relationship, with the US being the EU's top export partner.
- *Economic Impact*: Protectionism and trade wars can negatively impact economies, especially export-oriented ones like the EU's.
- *Global Market*: The trade fight between the EU and US could have ripple effects on the global market, influencing economic growth and stability ¹.