Jun 21, 2018 09:39 Asia/Tehran [Updated: Oct 04, 2019 12:00 Asia/Tehran]
  • EU adopted retaliatory measures against US tariffs

EU hit back at Trump with its own retaliatory measures against US tariffs on steel and aluminium.

 

The European Commission adopted regulation to hit back at Trump with its own retaliatory measures against US tariffs on steel and aluminum. The measures coming into effect on 22 June will immediacy impose tariffs on list of US products including peanut butter and Harley-Davidson motorcycles worth$3.2 billion.

"We did not want to be in this position. However, the unilateral and unjustified decision of the US to impose steel and aluminum tariffs on the EU means that we are left with no other choice. 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. Our response is measured, proportionate and fully in line with WTO rules. Needless to say, if the US removes its tariffs, our measures will also be removed", said Commissioner for Trade Cecilia Malmström.

The imposing tariffs will make the affected American goods more expensive for European consumers and hit US manufacturers due to decrease in demand for those goods.

 

Comments