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Rattled by President Trump’s proposal to raise tariffs on steel and aluminum imports, the European Union is threatening the U.S. with a full-blown trade war. “We will now impose tariffs on motorcycles, Harley Davidson, on blue jeans, Levis, on bourbon,” Jean-Claude Junker, President of the European Commission, warned earlier this week.
“Should Trump follow his words with actions, Europe will reply proportionately,” German Economy Minister Brigitte Zypries said in response to the proposed move.
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Earlier this week, President Trump had mulled the prospect to impose 25 percent import tariffs on steel imports and 10 percent on aluminum, a move aimed to prevent foreign producers from dumping cheap steel and aluminum into the U.S. market.
The EU is ready to ‘reciprocally raise’ import duty on U.S. steel and aluminum, Germany media reported on Wednesday. The EU, along with other steel and aluminum producing countries like Canada, Brazil, Japan, and China, might also lodge a formal complaint with the World Trade Organization (WTO).
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President Trump might have been onto something when he said that the EU had “banded together in order to beat the United States in trade,” at a Florida fundraiser recently. As Germany’s state-run broadcaster Deutsche Welle now reveals, the EU plans to “forge a coalition of countries to agree a unified reaction to Trump’s move.” Brussels hopes to recruit Canada, Japan, Australia, and Turkey among other countries in a united front against President Trump’s move, the broadcaster said.
As a retaliatory measure, the EU Trade Commissioner Cecilia Malmström wants to target US agriculture products like peanut butter, cranberries, and orange juice, France24 revealed:
Bourbon - Levi - Jeans - Harley - Davidson
Bourbon, Levi’s jeans and Harley Davidson: these are the main products Brussels is threatening to tax in the event of US tariffs on imports of aluminum and steel. The EU did not chose these products by chance.
EU Trade Commissioner Cecilia Malmström on...
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