EU imposes tariffs on US peanuts, motorcycles and whiskey
The European Union started enforcing tariffs Friday on American imports like bourbon, peanut butter and orange juice, part of a growing global trade rift that's likely to intensify over the next few weeks.
vibrantphotography/ Pixabay
The EU tariffs on $3.4 billion worth of U.S. products are in retaliation for duties the Trump administration has imposed on European steel and aluminum.
The EU trade commissioner has acknowledged that the EU targeted some iconic American items to put political pressure on U.S. President Donald Trump and senior U.S. politicians. European Commission spokesman Alexander Winterstein said the EU's response is proportionate and reasonable.
Daniel Gros, director for Economy and Finance at the Center for European Policy Studies, said that in a trade war everyone stands to lose, but the U.S. has put itself in a worse position.
"I think the United States is losing more because it has put tariffs on a very important input which very often it doesn't produce itself," he said. "The EU perhaps will find a few disgruntled consumers who have to pay more for their Harley Davidsons, but that is not a big loss for us."
Trump imposed tariffs of 25 percent on EU steel and 10 percent on aluminum on June 1. Europeans claim that breaks global trade rules.
The spat is part of a wider tussle over global trade. In two weeks, the United States will start taxing $34 billion in Chinese goods. Beijing has vowed to immediately retaliate with its own tariffs on U.S. soybeans and other farm products.(dpa)
Other news from the department business & finance
Most read news
More news from our other portals
Last viewed contents
Map of feelings of happiness - Finally back in the ice cream parlor! Researchers have now discovered how our brain guides us to such "reward places".
Put the kettle on! How black tea (and other favorites) may help your health later in life - Thanks to flavonoids, a daily cup could help you to enjoy better cardiovascular health late in life — however if you’re not a tea drinker, there are other things you can add to your diet
German beer sales up in 2022 after COVID pushed them down
Japanese Study Uncovers the True Role of 'Health Foods' in Nutrient Intake
Hands off gummy bears with melatonin for children - Three questions for Angela Clausen, consultant for food in the health market at the NRW consumer advice center
New peanut has a wild past and domesticated present - Researchers dig into the past to create new varieties to improve production
Red Microalgae Makes Veggie Burgers Bleed - Yemoja's new microalgae is poised to become a nutritious player in the plant meat space
The Absolut Company partners with blue ocean closures to develop innovative fibre-based bottle cap
Deutscher Tee & Kräutertee Verband e.V - Hamburg, Germany
Nescafé ranked number 3, among the top 100 megabrands
Study shows orange peel extract may improve heart health
