European Union approves retaliatory tariffs on billions in US imports

The European Union on Wednesday announced the approval of retaliatory tariffs on $23 billion dollars in U.S. goods as "countermeasures" against President Donald Trump's tariffs.

"The EU considers US tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy," the European Commission said in a statement. "The EU has stated its clear preference to find negotiated outcomes with the US, which would be balanced and mutually beneficial."