EU unveils counter-tariffs on U.S. products, from food to dental floss – National [Video]

The European Union will launch its first countermeasures against U.S. President Donald Trump‘s tariffs next week, the bloc’s members agreed on Wednesday, joining China and Canada in retaliating in the global trade conflict.

The approval came on the day that Trump’s “reciprocal” tariffs on the EU and dozens of countries took effect, including massive 104 per cent duties on China, extending his tariff onslaught and spurring more widespread selling across financial markets.

The 27-nation bloc faces 25 per cent import tariffs on steel and aluminum and cars as well as the new broader tariffs of 20 per cent for almost all other goods under Trump’s policy to hit countries he says impose high barriers to U.S. imports.

The European Union will put in place duties mostly of 25 per cent on a range of U.S. imports from next Tuesday in response specifically to the U.S. metals tariffs.

The bloc is still assessing how to respond …