For Europeans, that’s about to be a more expensive proposition — and for American companies, it could translate into lower sales and profits.
The European Union on Friday began imposing tariffs on about $3.4 billion of U.S. products, ranging from industrial goods to consumer items and agricultural products.
The move came in response to President Donald Trump’s recent tariffs on imported steel and aluminum — 25 percent and 10 percent, respectively.
The Trump administration has accused Europe of unfair trade practices and called for lower tariffs. European critics have accused Trump of violating international trade rules.
The trade spat is expected to affect the prices paid by European consumers and companies for everything ranging from certain alcoholic drinks to makeup.