EU escalates Trump trade war by slapping import tariffs on Bourbon whiskey and Harley-Davidsons in $28 billion retaliation.

The move came shortly after the U.S. reintroduced what it called “true” 25% tariffs on steel imports and a new 25% tariff on aluminum imports. Unlike during the first Trump administration, there will be no exemptions on products that are otherwise not available in the U.S.

The suspended tariffs will be reintroduced on April 1, while fresh tariffs are expected to be rolled out following consultation by April 13.

In line with warnings emanating from the U.S., tariffs are expected to have the biggest impact on European consumers. Included in the proposed tariffs are a host of popular U.S. consumer products, including Bourbon whiskey, jeans, and Harley-Davidson motorcycles.

The newest tariffs, which are expected to equate to €18 billion worth of goods, are intended to match the expected value of the U.S.’s tariffs on the EU.  European Commission president, Ursula von der Leyen, left the door open for negotiations with the U.S. before they are implemented next month.

Source: FORTUNE