EU retaliates with tariffs on $28 billion of U.S. goods

The EU has announced retaliatory tariffs on $28 billion worth of U.S. goods in response to new U.S. tariffs on aluminum and steel. This will increase costs for various sectors, including automotive, agriculture, and retail, affecting consumer prices. The tariffs will impact a wide range of products, including food, fashion, and alcohol. U.S. President Trump has threatened further tariffs, including a 200% tax on French wine and champagne, escalating trade tensions between the U.S. and EU. Analysts suggest that while the immediate economic impact may be limited, increased uncertainty could disrupt supply chains and competitiveness in key industries. The situation remains fluid, with potential for further tariff changes.