Wednesday, 7 March 2018

The EU responds to Trump

The President of the US, obviously, thinks he can do whatever he wants without consequences. It turns out, however, that this is not the case and the EU is about to respond in the most unprecedented way.
EU countries intend to target imports of goods worth 2.8 billion euros from the US, ranging from T-shirts and whiskeys to bikes, if Trump continues his plan to impose a 25% import duty on imported steel.
EU countries are planning to impose reciprocal duties on consumer goods imported from the US, including agricultural and steel products.
These tariffs have been discussed between the European Commission and the EU government on Monday in Brussels.
European regulators target imports from the US, including t-shirts, jeans, cosmetics and other consumer goods, bikes and boats, worth around 1 billion euros. Targets include orange juice, bourbon, corn and other agricultural products worth 951 million euros, including $854 million in steel and industrial products.
Trump's plans to levy import duties on foreign steel products, has already met serious opposition, even in his own party. Such actions, according to political observers, risk starting a trade war as well as triggering a number of complaints in the World Trade Organization against the United States.


No comments:

Post a Comment