Published: Thu, June 21, 2018
Markets | By Otis Pena

EU to impose duties on US imports after Trump tariffs

The European Commission said it would start charging import duties of 25 per cent on products including bourbon, jeans and motorbikes, in response to the United States decision to impose tariffs on EU steel and aluminium at the start of the month.

"We did not want to be in this position".

Announcing the European response, which will target £2.4billion (€2.8bn) worth of U.S. products, Ms Malmstrom said Brussels had no choice but to fight back.

There was shock when the world's largest economy confirmed earlier this month that it was imposing the duties on the EU, Canada and Mexico from 1 June, as part of Mr Trump's protectionist agenda aimed at saving U.S. jobs.

The tariffs, which will hit American products including motorcycles and denim, are a response to Trump administration tariffs on steel and aluminum exports from Europe.

European Union steel and aluminum exports now facing USA tariffs are worth a total of 6.4 billion euros.

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The commission formally adopted the new tariffs, allowing them to come into effect on June 22.

Canada has announced it will impose retaliatory tariffs on C16.6 billion ($12.5 billion) worth of USA exports from July 1.

It had previously registered the move with the World Trade Organization (WTO).

The former reality TV star is fighting a trade war on multiple fronts, with China also promising swift retaliation after the U.S. threatened to impose levies on a further £151bn ($200bn) of Chinese goods.

However, President Donald Trump has now asked officials to identify a further $200bn of Chinese goods to be subject to a 10% tariff.

Canada also promised retaliatory tariffs worth $12.8bn on USA products including steel, aluminium, whiskey and orange juice.

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