EU prepares response to possible new US tariff

ЕС готовит ответные меры на возможные новые пошлины США

In the case if USA will impose new duties on autoproduction from the EU, the consequences will be disastrous, warned in Brussels.

A few days before the crisis talks on the settlement of the trade conflict between the EU and the United States, the European Union strongly warned the President of the United States Donald trump from further escalation of the crisis. If the United States would impose prohibitive duties on automotive products from Europe, it will have disastrous consequences and create a new and grim reality, said the EU Commissioner for trade Cecilia malmström at the conference of the German Marshall Fund on Thursday, July 19.

The Commissioner warned that together with the countries – members of EU, it is already working on a list of American goods in respect of which the EU can impose retaliatory duties. According to the magazine Wirtschaftswoche, such punitive measures may be introduced, for example, against the products of American pharmaceutical and chemical industries. EU sources confirmed this information, the Agency dpa.

According to malmström, the new retaliatory duties, the EU will be much bigger than those which were imposed by Brussels in response to the US tariff on imported steel and aluminum. From the last still affected only European exports in the amount of 6.4 billion euros per year, but in the case of automobiles and automobile spare parts we are talking about the annual export volume of 50 billion euros.

To discuss ways out of this situation, Cecilia malmström, together with European Commission President Jean-Claude Juncker next week will visit Washington. July 25 to take them to the President of the United States Donald trump.

We will remind, today the European Commission adopted measures to protect European manufacturers from the effects of high protective duties on products of steel, entered the United States.

Source: Russian service of DW


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