The European Union decided to impose 25% retaliation on the US: The way US President Donald Trump has started the tariff war, there has been a stir all over the world. But there are some countries in the world which have planned to challenge Trump in their style. China has already shown a mirror to America in this case. And now on the other hand, a group of 27 countries i.e. European Commission is also gearing up to compete with Trump. A news agency said that the European Union on Monday proposed to impose 25% tariffs on some American goods. Citing the documents, the agency said that the tariffs on some items would be applicable from May 16.
However, the tariff will also be implemented on some other items from this year. It includes many things like diamonds, eggs, dental floss, chicken etc. There are also reports that some items have been removed from this list after the member countries objected. The tariff on almonds and soybeans will begin from December. European Union’s trade head Maros Sephakovic said on Monday that the impact of counter -duty would be less than 26 billion euros ($ 28.45 billion) earlier. Borbon, wine and dairy products have been removed from the list prepared in March.
After Trump threatened to impose 200% tariff on the European Union liquor, the Commission first planned to impose a 50% tariff on the borbon. France and Italy were particularly concerned with this danger because their wine industries are very large. In addition, the European Union tightened the existing security rules on steel from 1 April, resulting in a decrease of 15% in imports. The Commission is now considering the import quota of aluminum. The European Union member countries will vote on this proposal on 9 April.
Business war starts?
The move is part of Trump’s strategy against steel and aluminum tariffs. People consider it a new chapter of trade war. Some people are saying on social media, ‘America started it, now Europe is responding,’ While some people are joking, ‘they did not even leave dental flos!’ What happens next is yet to be seen, but at the moment the tariff war has intensified on both sides.
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