EU ready for a 'stupid' trade war if Trump slaps on tariffs
March 8, 2018
BRUSSELS (AP) — The European Union says it's ready to retaliate against the U.S. over President Donald Trump's proposed tariffs on steel and aluminum — with counter-measures against iconic U.S. products like Harley Davidson motorcycles, Levi's jeans and bourbon.
The EU threat and Trump's insistence that the tariffs will go ahead escalate the risk of a trade war, in which countries try to punish each other by increasing taxes on traded goods. In the end, that tends to hurt all sides as exporting producers suffer but so do consumers who face higher costs, experts say.
There was some hope...
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