European Union to impose countertariffs on United States products as of Friday

Industrial Views Across The Dee Valley

The EU also has in reserve potential tariffs of 10% to 50% that it could impose on a further 3.6 billion euros (RM16.6 billion) of United States imports in three years' time.

The president has become fixated on automotive trade, viewing it as a major irritant between the USA and its trading partners in Asia and Europe.

European auto manufacturers including BMW and Mercedes Benz have a large presence in the US. Senators this week grilled Commerce Secretary Wilbur Ross. If this investigation finds that the "national security" of the United States is compromised by a reliance on imports, than tariffs can be imposed. But in the current politically charged climate, a trade war is now a reality, as the United States decided in March to adopt an aggressive protectionist policy to correct what the Trump administration believes is a crippling trade deficit between the US and several major trading partners. Thus, it's unclear what problem Trump's auto tariff is supposed to solve - unless the president believes that vehicle prices in the US are intolerably low.

Calling the European Union response proportionate and in line with World Trade Organisation rules, she said that they would be removed if Washington removed its metal tariffs.

In a speech Thursday in Dublin, Jean-Claude Juncker, president of the European Commission, decried once again what he suggested was unnecessary aggression from the White House. In fact, it goes against all logic and history.

More news: News agency releases audio of screaming children inside Border Patrol facility

"The rules of global trade that we have developed over the years with our American partners can not be violated without a reaction from our side", Malmstrom said. She had earlier sought to dispel anxieties that the situation would become a trade war.

When the USA tariffs on steel and aluminum went into effect on June 1, the European Union said they were "illegal", pledged to impose its own tariffs, and filed a case against the U.S.at the World Trade Organization.

"If we chose products like Harley Davidson, peanut butter and bourbon, it's because there are alternatives on the market". "We don't want to do anything that would harm consumers".

"What's more, these products will have a strong symbolic political impact". And bourbon is a big product of Kentucky, where the Senate majority leader, Republican Mitch McConnell, is from.

It's worthing noting that, before Trump triggered a trade war, USA exports to the European Union faced an average tariff of just 3 percent; America's domestic carmakers were already highly profitable; and most major foreign automakers operate large plants in the United States.

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