EU to start imposing retaliatory tariffs on US on Friday

Daniel Fowler
June 21, 2018

The European Union has announced a new range of retaliatory tariffs against the United States, in response to the us revoking the EU's exemption from steel and aluminum tariffs.

"However, the unilateral and unjustified decision of the U.S.to impose steel and aluminum tariffs on the European Union means that we are left with no other choice", Malmström said.

The tariffs will hit $3.2 billion in US imports to the European Union.

The EU also launched legal proceedings against the U.S.at the WTO on June 1.

Cranberries, cranberry juice, orange juice, sweetcorn and peanut butter are among the other food products targeted.

Trump has said that the tariffs are needed to protect the nation's national security.

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Brussels first drew up the list in March when US President Donald Trump initially floated the idea of 25 percent tariffs on steel imports and 10 percent on aluminium.

Mr Trump said the global oversupply of those metals - driven by China - threated American steel and aluminium producers.

The EU has said that the USA has no grounds for implementing the national security policy and is instead moving to protect American industries.

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 USA jobs.

From blue jeans to motorbikes and whiskey, the EU's hit-list of products targeted for tariffs with the USA reads like a long list of emblematic American exports. Second-stage retaliation would involve levies ranging from 10 per cent to 50 per cent on an extra 3.6 billion euros of American goods imported into the EU.

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