On Wednesday, EU member states gave the green light to an initial round of retaliatory tariffs on U.S. imports, ranging from 10% to 25%. According to the European Commission, these duties will take effect next week.

Reports indicate that the new tariffs will apply to American products like jeans and motorcycles. However, U.S.-produced whiskey and other alcoholic drinks have been excluded from the final list.

Additional waves of counter-tariffs are planned, with more duties expected in mid-May and at the end of the year. These will impact goods such as beef, poultry, and citrus fruits like oranges and grapefruits. Further tariffs targeting items like nuts and soybeans are set for early December.

The EU’s actions are a direct response to U.S. tariffs on steel and aluminum imports introduced about a month ago.

Based on EU estimates, the American measures affect European exports valued at €26 billion (roughly $28.8 billion). In retaliation, the EU is targeting U.S. goods worth about €21 billion.

Despite the move, the EU has reiterated its preference for dialogue over further escalation. It also noted that additional measures are being prepared in reaction to recently announced U.S. tariffs on cars and a wide range of other EU exports.