EU to start retaliatory tariffs on U.S. agricultural imports
According to Time, the European Union (EU) has announced it will start imposing duties beginning in July on a list of U.S. products in response to U.S. President Donald Trump’s decision to levy tariffs on steel and aluminum imports from Europe.
According to Time, the European Union (EU) has announced it will start imposing duties beginning in July on a list of U.S. products in response to U.S. President Donald Trump’s decision to levy tariffs on steel and aluminum imports from Europe. The EU says it will introduce “rebalancing” tariffs on about €2.8 billion ($3.4 billion) worth of U.S. steel, agricultural, and other products. The agricultural products affected include: cranberries, orange juice, rice, peanut butter, sweetcorn, and bourbon whiskey.
Trump imposed tariffs of 25% on steel imports and 10% on imported aluminum from the EU on June 1. The EU exported approximately 5.5 million tons of steel to the United States in 2017.
The EU—the world’s biggest trading bloc—has also taken its case to the World Trade Organization (WTO). If the WTO rules in its favor, or after three years if the case is still going on, the EU plans to impose further tariffs of €3.6 billion euros on U.S. products.
EU proposed tariffs (pdf)