4 minutes agoEU-US Trade War
Periskopi(8 years ago)
(8 years ago)No “cition” on Twitter or personal statement . US President Donald Trump left this time to his Minister of Commerce Wilbur Rosss tribune, and he announced the decision: Starting this Friday, the EU's steel imports, but also from Canada and Mexico will be taxed with customs in size 25 for [...]
Disfellowshipping from this customs tax regulation imposed in March, which has so far been applied to these three countries, is abolished on June 1, 2018.
Europeans are not surprised by this decision. They tried until the end to ease the trade conflict with the United States, but that failed because both sides insisted on their positions. While the US favours bilateral agreements, the EU does not want to split and insist on respecting WTO rules.
We will continue to protect the principles of free trade and bilateral agreements, federal Economy Minister Peter Altmaier said at the Organisation for Economic Co-operation and Development's ministerial meeting in Paris. The last few weeks, we've worked very intensively, with a lot of solidarity and very placed at European level” Altmayer said that we should continue.
Various Effects
The EU will complain near the WTO and take protective measures for the European economy, as well as impose customs duties on goods imported by the US. Among the goods for which customs duties will be imposed are the whiskey (whiskey) engines of the Harley-Davidson brand and jeans products, which are produced in the American states where the Republicans are in power. The European Commission says the measures the EU is taking therefore having political background and are not the customs penalty tax.
Donald Trump has threatened to establish customs duties for vehicles from Europe as well. In such a vulnerable case, the German economy would be.
Many Workplaces at Risk
Many German automobile concertes produce in the United States. Many more German vehicles are even produced in the United States than are sent from Germany to sell in the United States. German enterprises thus provide jobs in the United States.
But because German automobile concertes in the United States import many parts for automotive production from Europe, there is danger that because of higher customs taxes, they shut down factories in the US. Also expensive German vehicles would threaten the competitiveness of American automobiles, and this would ultimately cause loss for everyone.
