EU hits back with us import duties

CNC
Added On June 8, 2018

The European Union says it could launch counter-measures against new US tariffs on steel and aluminium ...by as soon as July.
 
On Wednesday, the EU said it will trigger its back-up plan, and slap higher duties on a range of American products.
 
 
In March, Trump announced plans to impose a 25-percent tariff on imported steel and 10 percent on aluminum.
 
Despite some frantic lobbying, the duties kicked in for the EU, Canada and Mexico on June 1.
 
On Wednesday, the European Commission said it was hitting back, and slapping higher tariffs on a list of U.S. products, previously sent to the World Trade Organization.
 
The Commission added it could ratify the decision with member states "before the end of June", meaning that "new duties start applying in July".
 
The list includes a number of iconic American products, including blue jeans, motorcycles, and bourbon.
 
The EU estimates the tariffs will affect around 2.8 billion euros of American goods - less than half the 6.4 billion euros of EU metal affected by the new US tariffs.
 
EU trade commissioner Cecilia Malmstrom called the plan a measured and proportionate response - as opposed to the unilateral and illegal decision taken by the United States.