The European Commission has published the list of products it would retaliate against should the U.S. not give it an exemption to the section 232 duties on steel and aluminum. The EU could take action within 90 days and would be implemented via a two stage, WTO-compliant safeguarding approach. The first group of products, on which there would be a “suspension of concessions” has been widely trailed and are led by whiskey ($565 million of EU imports from the U.S. in 2017) and makeup ($272 million). The second group, on which additional tariffs would be applied, includes some from the firs...