The EU has vowed to retaliate against American exports, including bourbon and bluejeans, though any action may not be immediate. The European steel industry has already felt the fallout. Some European steel producers are saying the damage may not be too serious, at least early on. Acerinox makes 40% of its revenue in the U.S. through its North American Stainless unit, based in Kentucky. Acerinox says it has a 35% share of the American stainless steel market.

Source: Wall Street Journal April 30, 2018 13:36 UTC