For consumers, higher prices loom on supermarket shelves, but for businesses and industry the risks are higher.

The European Union responded to American steel and aluminum tariffs with its own tariffs on boats and bourbon — and pledges of more to come.

The U.S. Trade Representative slammed the European Union’s move to impose 50% tariffs on U.S. whiskey in response to American levies on steel and aluminum imports. In his first public statement since confirmation,

The European Union said it will impose retaliatory tariffs worth $28 billion on U.S. industrial and agricultural goods, following the Trump Administration's decision to raise tariffs on steel and aluminum imports to 25 percent.

The European Union on Wednesday announced retaliatory trade action with a series of duties on U.S. industrial and agricultural products that will go into effect from April 1