EU Trade Tariffs Target Harley-Davidson, Other American-Made Goods – By Andrew N. White (ibtimes.com) / June 21 2018
The European Union announced it would start taxing iconic U.S. imports like Harley-Davidson motorcycles and bourbon on Friday in response to the Trump administration’s new proposed tariffs on European metal exports.
The EU announced on Wednesday that it would issue taxes on American imports worth about $3.4 billion starting Friday after U.S. President Donald Trump imposed tariffs on all steel and aluminum products coming out of Europe, the Associated Press reported. On June 1, Trump issued tariffs of 25 percent on steel imports and 10 percent on aluminum imports from the EU.
The EU’s tariffs will reportedly target American products such as cranberries, orange juice, jeans, and peanut butter, EU Trade Commissioner Cecilia Malmstrom said Thursday.
Malmstrom, during an interview in New Zealand, said the EU had chosen some of the products because they represented Americana and hoped it would “make noise” and put pressure on U.S. officials to reverse the decision.
“If we can’t convince our American partners, maybe the American businesses and the American consumers and the American politicians can,” she said.
In 2017, the EU exported roughly 5.5 million tons of steel to the U.S., ABC News reported. Many European officials claim Trump’s decision breaks global trade rules.
“The rules of international trade, which we have developed over the years hand in hand with our American partners, cannot be violated without a reaction from our side,” Malmstrom said. “Needless to say, if the U.S. removes its tariffs, our measures will also be removed.”
Meanwhile, Trump on Tuesday threatened to impose tax duties on an additional $200 billion worth of Chinese goods, BBC News reported. Trump said the 10 percent tariff would occur if China “refuses to change its practices.” Officials in Beijing, responding to the decision, said they would “fight back firmly.”
Countries including South Korea, Argentina, Australia and Brazil have agreed to limit the number of metals they export to America after news of Trump’s tariffs.
The European Union said it plans to tax U.S. imports like Harley-Davidson motorcycles in response to the Trump administration’s new tariffs on EU metal exports. Harley-Davidson motorcycles are pictured on June 1, 2018 in Kenosha, Wisconsin. Photo: Scott Olson/Getty Images
http://www.ibtimes.com/eu-trade-tariffs-target-harley-davidson-other-american-made-goods-2693330
