EU's retaliatory tariffs against U.S. set to begin this week

The European Union will begin charging a 25% tariff on $3.2 billion dollars of U.S. products on Friday in response to President Trump's decision not to exempt Europe from sweeping tariffs on aluminum and steel, per Reuters.

The backdrop: The EU's retaliatory tariffs, announced earlier this month, target politically-sensitive products here in the U.S., like bourbon from Senate Majority Leader Mitch McConnell's home state of Kentucky and dairy products from House Speaker Paul Ryan's Wisconsin.