Saturday, 22 September 2018
Latest news
Main » European Union levies tariffs on $3.2B on USA goods over metals duties

European Union levies tariffs on $3.2B on USA goods over metals duties

21 June 2018
European Union levies tariffs on $3.2B on USA goods over metals duties

The new duties also include other categories of imported goods including various types of corn, rice, orange juice, cigarettes, cigars, T-shirts, cosmetics, boats, and steel, Bloomberg notes.

Announcing the European response, which will target £2.4billion (€2.8bn) worth of United States products, Ms Malmstrom said Brussels had no choice but to fight back.

The European Union will begin charging import duties of 25 percent on a range of US products on Friday, in response to U.S tariffs imposed on EU steel and aluminum early this month, the European Commission said on Wednesday.

The European Union will roll out a range of retaliatory tariffs against USA exports on Friday, targeting items such as American blue jeans, bourbon and motorbikes.

"We did not want to be in this position", European Trade Commissioner Cecilia Malmstrom said in a statement on Wednesday. She called the EU's response "measured, proportionate and fully in line with WTO rules".

The firms called for all tariffs to end, on both the European Union and U.S. side, to boost free but also fair trade across the Atlantic, passing the message to the U.S. Ambassador to Germany Richard Grenell.

Donald Trump hit the EU, Canada and Mexico with tariffs of 25 percent on steel and 10 percent on aluminum at the start of June, ending exemptions that had been in place since March.

The trade battles have raised the spectre of an escalating global trade war, spooking financial markets that fear major consequences to the world economy.

"The United States has initiated a trade war and violated market regulations, and is harming the interests of not just the people of China and the USA, but of the world".