7 hours agoEU countries to approve first revenge against US tariffs
Periskopi(a year ago)
(a year ago)European Union countries are expected to approve on Wednesday the bloc's first counter measures against Trump tariffs, joining China and Canada in revenge and escalation of a conflict that could turn into a global trade war. The approval will come on the day the <x0-reciproke tariffs” of Trump to the EU and [...]
The approval will come on the day when Trump's <x0-reciproke tariffs” and dozens of countries entered into force, including mass tariffs 104 per cent to China, extending its fee and boosting the most widespread sales on financial markets, reports Independent.co.uk, broadcast Periscope.
The 27-nation bloc faces a 25 per cent import fee for steel, aluminum and cars, as well as the new wider 20 per cent tariffs for almost all other goods according to Trump's policy to hit the countries it says impose high barriers for US imports.
The European Commission, which co-ordinates EU trade policy, proposed additional tariffs of 25 per cent for a host of US imports Monday in specific response to US metal tariffs. She's still assessing how to respond to the largest car and taxes.
Imports include motorcycles, birds, fruit, wood, clothing and dental thread, according to a first document by Reuters. They amounted to around 21 billion euros last year, which means EU revenge will be against goods worth less than 26 billion euros in EU metal exports hit by US tariffs. /Periscope/
