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Europe strikes back against Trump tariffs
(MENAFN) The European Commission reported on Wednesday that it initiated a set of countermoves against the US' extra tariffs on steel as well as aluminum ship-ins from the EU.
The commission pointed to the temporarily stopped “rebalancing measures” in opposition to United States Leader Donald Trump's 2018 tariff practices during his first regime, and also stated that it will levy these hanged tariffs from 2018 and 2020 again.
The commission will additionally make a fresh series of more procedures against the United States, to cover lots of goods "ranging from boats to bourbon to motorbikes."
It stated: "Since the new US tariffs are significantly broader in scope and affect a significantly higher value of European trade, the Commission launched on 12 March the process to impose additional countermeasures on the US.”
"These will target approximately EURO18 billion (around USD19.6 billion) worth of goods, which will then apply together with the reimposed measures from 2018. The objective is to ensure that the total value of the EU measures corresponds to the increased value of trade impacted by the new US tariffs."
The commission pointed to the temporarily stopped “rebalancing measures” in opposition to United States Leader Donald Trump's 2018 tariff practices during his first regime, and also stated that it will levy these hanged tariffs from 2018 and 2020 again.
The commission will additionally make a fresh series of more procedures against the United States, to cover lots of goods "ranging from boats to bourbon to motorbikes."
It stated: "Since the new US tariffs are significantly broader in scope and affect a significantly higher value of European trade, the Commission launched on 12 March the process to impose additional countermeasures on the US.”
"These will target approximately EURO18 billion (around USD19.6 billion) worth of goods, which will then apply together with the reimposed measures from 2018. The objective is to ensure that the total value of the EU measures corresponds to the increased value of trade impacted by the new US tariffs."
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