The European Union announced its first moves against the United States in connection with the tariffs on metals proposed by Donald Trump until mid-term. Tse allow you to rely on how American goods will be sold to you.
This is reported by RBC-Ukraine via Reuters.
As we have seen, the European Commission proposed in the 1st quarter to impose tariffs for 2018 on American goods of 4.5 billion euros (4.9 billion dollars – ed.), and in the 13th quarter – more 18 billion euros for American goods.
“We also see the possibility of using similar terms to introduce two sets of EU counter-approaches, so that we can simultaneously consult with member states of both lists, and thus also give us additional time for negotiations from our American partners,” said EU Commissioner for Trade Maros Sefcovic. A later commission confirmed that all EU counter-approaches will take place in the middle of the war.
The first counter-entries include a 50% tariff on American bourbon. Earlier, Trump threatened to impose 200% tariffs on all wines and other alcoholic products coming from the EU. The Trump administration also plans to introduce “supplementary” tariffs for the second quarter in order to rebalance the world trade system.
Following Sefcovic’s words, he was able to achieve limited progress in negotiations with his American colleagues, for example, behind his proposal to discuss a reduction in imports on industrial goods. Preventing the shipment of counter-entries may allow certain adjustments to be made before the transfer of American goods.
Trump's Minute War
Apparently, at the beginning of the year, Trump raised tariffs on the import of steel and aluminum to a fixed 25% in the United States and all corners of the world without guilt. The largest importers of cheese fell under attack – Canada, Mexico, Russia and China.
The decision is explained by the failure to help the American industry. Ale low countries have begun to export the gateway for import from the United States. This provoked tariff wars.
Zokrema, the government of the Canadian province of Ontario, has provided 25% of the tax for electricity supplies to the United States. Following this, Trump raised the rate on imports of Canadian steel and aluminum by another 25% and increased it to 50%. Later, the governor of Ontario decided to vote on his proposal, and Trump declared that he would not raise the rate
It’s also worth mentioning that US President Donald Trump’s tariff wars against allies have already caused the US stock market to fall by 10%, with investors spending 4 trillion dollars. The five billionaires who supported Trump spent $200 billion in one hour.
Previously, the European Union took counter-approaches against the new US tariffs on metals. Brussels is targeting 26 billion euros on American goods.
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