European Commission President Ursula von der Leyen said as the United States is “applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros,” or about $28 billion.

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 EU tariffs will take effect on April 1 and be fully implemented by mid-month.

Donald Trump’s increased tariffs on all U.S. steel and aluminium imports have taken effect, stepping up a campaign to reorder global trade norms that has already drawn swift retaliation from Europe.Trump’s action to bulk up protections for domestic steel and aluminum producers restores effective global tariffs of 25 percent on all imports of the two metals,