The European Union (EU) expects to hit U.S. imports with additional duties from July, ratcheting up a transatlantic trade conflict after Washington imposed its own tariffs on incoming EU steel and aluminium.

EU members have given broad support to a European Commission plan to set 25 percent duties on up to 2.8 billion Euros of U.S. exports in response to what is sees as illegal U.S. action. EU exports that are now subject to U.S. tariffs are worth 6.4 billion Euros.

“The Commission expects to conclude the relevant procedure in coordination with member states before the end of June so that the new duties start applying in July,” Commissioner Maros Sefcovic told a news conference today after he and other commissioners endorsed the plan for duties on U.S. imports.

According to Reuters, that plan also includes duties of between 10 and 50 percent on a further 3.6 billion Euros of U.S. imports in March 2021 or potentially sooner if the World Trade Organization (WTO) has ruled the U.S. measures illegal.

U.S. products on the list include orange juice, bourbon, jeans, motorcycles and a variety of steel products.

Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here