European Union tariffs on United States goods come into force

April FrancisJun 24, 2018

President Donald Trump fired back immediately, repeating his threat to impose tariffs on European vehicle exports to the United States.

Daniel Gros, director for Economy and Finance at the Center for European Policy Studies, said that in a trade war everyone stands to lose, but the US has put itself in a worse position. The affected American motorcycle brands will certainly be Harley-Davidson and Indian Motorcycle, which will see higher sticker prices in Europe, and is certain to affect sales.

Speaking on the imposition of the EU measures, European Trade Commissioner Cecilia Malmström said: "We did not want to be in this position".

The EU tariffs came into force just a week after China accused the United States of starting a trade war.

Trump's new threat comes after the European Union imposed tariffs on a range of United States consumer goods in response to steel and aluminium tariffs from the White House, which could increase the cost of consumer goods by £200m per year in the UK alone. "Build them here!" Trump tweeted.

Effective from today (22 June), the tariffs on U.S. goods include a 25% increase on American whiskey and Bourbon.

Canada has also threatened to impose retaliatory tariffs on $12.5 billion worth of USA exports, starting July 1.

But US Assistant Secretary of State for European and Eurasian affairs Wess Mitchell said on Thursday that Trump's approach towards his allies was about "strategic renovation".

Trump has always been fixated on imported cars. If the findings show a threat to the United States, a 1960s-era trade law gives Trump authority to impose import restrictions without congressional approval. Besides, the USA consumer has gotten used to mountains of affordably priced clothes, digital gadgets and toys from China, India and elsewhere, all of which are now threatened with higher tariffs.

Mohamed Salah left out of Egypt's starting XI against Uruguay
On Salah's absence, he added: "If Mo Salah had been on the pitch, I'm sure Egypt would have benefited". The World Cup Egypt vs Uruguay match will be played at Ekaterinburg Arena, Russia.

In turn, Trump quickly responded to the European salvo, dashing off a tweeted warning Friday morning that if the EU tariffs and barriers "are not soon broken down and removed" the U.S. will place a 20 percent tariff on all European-built cars coming into the U.S. "Build them here!" he tweeted.

Earlier, Trump had said the "unfair" foreign trade practices were not merely an "economic disaster" but a "security disaster" and by imposing tariffs he was defending America's national security.

But the administration's insistence that the U.S. was hit with disproportionate tariffs from key trading partners "is simply not true", wrote Gregory Daco, head of U.S. Economics at Oxford Economics, in a research note.

U.S. Commerce Secretary Wilbur Ross said earlier this week that his department plans to wrap up by July or August an investigation into whether imported cars and auto parts are a threat to national security.

President Donald Trump escalated his threat to apply new tariffs on European autos Friday.

"Having ordered an investigation into whether auto imports are a national security threat, he has now undercut that by reaching his conclusion before the investigation has barely begun", Reinsch said.

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

In a statement following Trump's tweet, VDA said that the president's tariff threat was counterproductive.

Volkswagen AG, Daimler AG and BMW AG each fell in Frankfurt. Recent G-7 meeting held in Quebec City Canada, to negotiate Trump's stance on punitive tariffs resulted in a fiasco for all democrat leaders. But those European automakers also ship some of the cars they sell in the United States from Europe. It followed his address to a "Make America Great Again" rally in Minnesota earlier this week, in which he denounced the European Union for saying "we're going to sell you millions of cars, by the way, you're not going to sell us any".

Related Articles:

« Previous article
Next article »

Popular Pages

Denmark's Poulsen turns from villain to hero , Latest Football News
It was to prove a costly miss, and Peru must be more clinical if they are to have any chance of qualifying. Denmark also reached Russian Federation via the play-offs, beating the Republic of Ireland.

International Yoga Day 2018
Asking people to embrace yoga for a healthy and peaceful life, Modi said yoga presents a ray of hope for future of the world. Let's take a look at how the world is marking the occasion.

According To Mumbai Football Fans Brazil Can Win FIFA WC 2018
The package includes live coverage of all 64 World Cup matches in full HD and will cost Dhs551 (excluding VAT). On Wednesday, Fox Sports will be streaming a preview of its daily Twitter show, live from Russian Federation .

Asian markets down as trade war heats up
Mr Trump recently ordered tariffs on 50 billion dollars in Chinese goods in retaliation for intellectual properly theft. Parker suggested that such steps might include delaying or denying licenses required by USA companies in China.

USA prosecutors pull encrypted messages from phones seized in Cohen raids
Cohen had sought to delay the legal fight after his home and office were raided by the Federal Bureau of Investigation in April. Attorney's Office in the Southern District of NY said that one of the devices contained approximately 315 megabytes of data.

Five immigrants dead after Border Patrol car chase in Texas
The driver was not seriously injured and taken into Homeland Security custody, Dimmit County Sheriff Marion Boyd told reporters. He said four people died at the scene, and several were flown by emergency helicopter to a hospital in San Antonio .

Japan punish 10-man Colombia in Saransk to make winning start
Colombia equalized late in the first half on Juan Quintero's rolling but accurate free kick, which sneaked inside the right post. A Sweden supporter holds up a scarf ahead of a World Cup Group F match between Sweden and South Korea on June 18, 2018.

England boss Gareth Southgate dislocates shoulder in Russian Federation
Speaking to BBC One after the Tunisia win, Kane said: "We have shown resilience for a while now since the gaffer come in". The England manager took training at Spartak Zelenogorsk on Thursday, despite the discomfort of a dislocated shoulder.

White House: New tariffs on China a 'purely defensive' move
But Intel shares dropped 3.4 percent to $53.22 on Monday on news of a stock downgrade and investor concerns over tariffs. Still, economists and business executives say there's still some prospect that a full-blown trade war can be avoided.

Sara Netanyahu, Israeli Prime Minister's Wife, Is Charged With Fraud
It detailed 15 cases in which Sara Netanyahu ordered food from outside chefs including Shalom Kadosh and Lior Hafzadi. It added that the expenditures also covered hosting "official guests from Israel and around the world".