LONDON (ShareCast) - (ShareCast News) - Europe is preparing to impose tariffs on Harley-Davidson motorbikes, bourbon whiskey and Levi's jeans in response to Trump's 'America First' taxes on steel (+25%) and aluminium (+10%) imports.
The news broke as shares in major European car makers retreated on Monday after President Trump threatened to implement tariffs on vehicles.

In remarks to the BBC, EU Commissioner for Trade Cecilia Malström said that the EU may take the decision to the WTO and ask for safeguard measures "on our steel and aluminium".

"We are looking at possibilities to retaliate, meaning we will also put taxes or tariffs on US imports to the European Union."

Commission President Jean-Claude Juncker said that those American products were part of a draft list of US goods that could be taxed in what he labelled as a necessary "counter measure".

"We will put tariffs on Harley-Davidson, on bourbon and on blue jeans Levis," Mr Juncker had said on Friday on German television.

"We are here and they will get to know us. We would like a reasonable relationship to the United States, but we cannot simply put our head in the sand."

Theresa May had also urged the President on 4 March to drop his threats of a trade war amid rising fears of an international meltdown over commerce.

"The Prime Minister raised our deep concern at the President's forthcoming announcement on steel and aluminium tariffs, noting that multilateral action was the only way to resolve the problem of global overcapacity in all parties interests," said a No 10 spokeswoman.

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