Reuters: The EU 🇪🇺 will impose retaliatory tariffs on $28 billion worth of U.S. goods, including bourbon, semiconductor chips, and toilet paper, in response to Trump's tariffs on EU steel, aluminum, and cars.
President Trump's tariffs affect over 70% of EU exports to the U.S. ($585 billion last year).
Not all countries agree on the retaliation plan, but the EU is expected to approve the tariffs on Wednesday, implementing them in two phases starting from April 15.
President Trump has warned of a 200% tariff response if the EU proceeds.
This could easily lead to economic recession.
So exhausting…
This morning looking at ETH is really discouraging.