European Union to impose retaliatory tariffs on US imports from July

From blue jeans to motorbikes and whiskey the EU's hit-list of products targeted for tariffs with the US reads like a catalogue of emblematic American exports

European Union to impose retaliatory tariffs on US imports from July

The EU executive said Wednesday it would start imposing higher duties on a number of US products in July in response to US President Donald Trump's recent decision to slap higher tariffs on some EU exports.

'It is a measured and proportionate response to the unilateral and illegal decision taken by the USA to impose tariffs on the European steel and aluminium exports which we regret, ' said the former Slovak prime minister.

Sefcovic said that formalities in finalizing the list should be completed this month.

President TrumpDonald John TrumpSix takeaways from 2018's Super Tuesday Dem Andrew Janz advances in bid to unseat Nunes Montana GOP candidate Rosendale to take on Tester in November MORE announced last week that he would place a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum from key allies, including the EU, Canada and Mexico.

The EU on Wednesday said a raft of retaliatory tariffs against painful metals duties imposed by the United States would be ready as early as July. He said the move is meant to protect USA national security interests, but the Europeans claim it is simply protectionism and breaks global trade rules.

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That plan also includes duties of between 10 and 50 percent on a further 3.6 billion euros of US imports in March 2021 or potentially sooner if the World Trade Organization has ruled the USA measures illegal.

The EU exported some 5 million tonnes of steel to the USA past year. Producers in the bloc are increasingly anxious about a loss of market access. European Union exports that are now subject to USA tariffs are worth 6.4 billion euros.

European Union capitals are united in so much as no one wants a trade war - with the U.S. stepping back from the brink of penalties against China following progress in talks with Beijing.

European Trade Commissioner Cecilia Malmstrom said on Monday that preliminary "safeguard" measures for steel could come as early as July.

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