BRUSSELS (AP) — Canada and the European Union swiftly hit back at increased steel and aluminum tariffs imposed by U.S. President Donald Trump. Canada matched Trump’s 25% increase on steel and aluminum and raised tariffs – that is, import taxes – on a slew of other U.S. goods. Across the Atlantic, the European Union will raise tariffs on American beef, poultry, bourbon and motorcycles, bourbon, peanut butter and jeans. Combined, the new taxes will cost American companies billions of dollars. Companies will either take the losses and earn fewer profits, or, more likely, pass costs along to consumers in the form of higher prices.