The European Union is set to retaliate against the United States by imposing tariffs on $7.5 billion worth of American steel and aluminium exports, following a decision by the US trade office last week. The move comes as a response to US President Donald Trump’s announcement in 2018 that he would impose a 25% tariff on all imported European steel and a 10% tariff on all imported European aluminium. The EU’s decision is expected to spark further escalation in the ongoing trade tensions between the two global economic powerhouses.
Source: https://www.ft.com/content/262cfde9-bf03-4b93-b51a-940c1414b04b