European Union retaliatory tariffs to hit USA products on Friday

Report Germany’s Automakers Throw Up White Flag on Trade Offer to Scrap 10% Tariff			Jesco Denzel  German Federal Government via AP		20 Jun 2018

Report Germany’s Automakers Throw Up White Flag on Trade Offer to Scrap 10% Tariff Jesco Denzel German Federal Government via AP 20 Jun 2018

The European Commission in Brussels gave final approval for a 25 per cent duty on 2.8 billion euros (US$3.2 billion) of EU imports of a range of USA products including Harley-Davidson Inc. motorcycles, Levi Strauss & Co. jeans and bourbon whiskey.

The European Commission said it would start charging import duties of 25 per cent on products including bourbon, jeans and motorbikes, in response to the U.S. decision to impose tariffs on EU steel and aluminium at the start of the month.

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.

The European Union will begin charging import duties of 25 percent on a range of USA products on Friday, in response to U.S tariffs imposed on EU steel and aluminum early this month, the European Commission said on Wednesday.

"We did not want to be in this position", EU Commissioner for Trade Cecilia Malmström said in a statement.

The tariffs are the latest in a tit-for-tat row between the traditionally close allies, which began when Donald Trump introduced harsh tariffs on imported steel and aluminium.

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

Canada will impose retaliatory tariffs on $12.5 billion worth of US exports starting July 1.

There is also a notable addition at the end of the long list of products - a 10% tariff on playing cards.

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