European Union says it will start to impose tariffs on United States on Friday

22 June, 2018, 17:45 | Author: Lora Ball
  • China and US trade talks

Brussels first drew up the list in March when Trump initially floated the 25 per cent tariffs on steel imports and 10 per cent on aluminum, which also target Canada, Mexico and other close allies.

The European Union slapped revenge tariffs on iconic United States products including bourbon, jeans and motorcycles on Friday in its opening salvo in a trade war with President Donald Trump. The EU does not rely on the U.S.as a market for its steel exports as much as Canada or Mexico, which are also being hit by the USA tariffs and stand to lose more.

Earlier this month, Mexico imposed a series of tariffs on $3 billion worth of USA exports of pork, apples, potatoes, bourbon as well as different types of cheese. India and Turkey have already targeted US products, ranging from rice to autos to sunscreen.

The European Union will start taxing a range of US imports Friday, June 22, including quintessentially American goods like Harley-Davidson bikes and cranberries, in response to President Donald Trump's decision to slap tariffs on European steel and aluminum.

After being deferred, the duties on steel and aluminium went ahead on 1 June and affect the EU, Canada, Mexico and other close USA allies.

"It will be a disaster", said Nagesh Balusu, manager of the Salt Whisky Bar and Dining Room in London and expects the European Union's tariffs to add more than $7 to the price of a bottle of Jack Daniels, which is imported from Tennessee.

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As painful as the brewing trade war could prove, many have seen it coming.

Trump has also started a trade fight with China over Beijing's sharp-elbowed efforts to overtake USA technological dominance.

Reuters reported that Gao Feng, a spokesman for the Chinese Commerce Ministry, said the Trump administration's trade policies will in the end be counterproductive for American interests.

European Union slapped a 25 per cent tariff on American products such as whiskey, tobacco, Harley Davidson motorcycles, cranberries and peanut butter, reports The Independent.

Earlier this week, Mr Trump threatened to impose 10% duties on an additional $200bn (£150bn) worth of Chinese goods which he said would come into force if China "refuses to change its practices".

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