According to Reuters, these are targeted measures involving imports of up to $ 28 billion in US products
European Union countries will seek to present a single front in the coming days against US President Donald Trump’s duties, possibly approved a first series of targeted countermeasures to imports of up to $ 28 billion in US products, according to Reuters.
Such a move would mean that the EU will unite with China and Canada to impose retaliation for US duties in an early escalation of what some fear will develop into a world trade war, making the goods more expensive for billions of consumers and pushing the world. The block of 27 countries is facing 25% import duties for steel, aluminum and cars and “mutual” tariffs 20% on Wednesday for almost all other goods.
Trump’s duties cover about 70% of EU exports to the US – totaling € 532 billion ($ 585 billion) last year – while duties for copper, medicines, semiconductors and timber may still follow. The European Commission, which coordinates EU trade policy, will propose to its members late Monday a list of US products that will be hit by additional duties in response to Trump’s steel and aluminum duties instead of wider mutual contributions.
This list is going to include American meat, cereals, wine, wood and clothing, as well as chewing gum, dental floss, vacuum cleaners and … toilet paper. A product that has taken the most attention and seems to cause discord in the block is Bourbon. The Commission has predicted a 50% duty, prompting Trump to threaten 200% in EU alcoholic beverages if the block proceeds. Wine exporters, France and Italy have expressed their concern. The EU whose economy is largely dependent on free trade, wishes to ensure that it has widespread support for any answer to maintain the pressure on Trump to finally start negotiations.
Critical meeting in Luxembourg
Luxembourg will host the first EU political meeting earlier on Monday after Trump’s scavenging duties announced, where ministers responsible for trade in 27 EU members will exchange views on the impact and best way of reaction.
EU diplomats have said that the main purpose of the meeting is to provide a single message that they want to negotiate with Washington to lift the duties, but that they are ready to respond with countermeasures if it fails. “Our biggest fear after Brexit was the bilateral agreements and the split of unity, but through three or four years of negotiations this did not happen. Of course, here we have a different story, but everyone can see interest in a common commercial policy, “said an EU diplomat.
