The countries of the European Union will try to present a united front in the coming days against the tariffs of the US president, Donald Trump, probably approving a first set of selective countermeasures on up to US $ 28,000 million of American imports, From tooth thread to diamonds.
If so, the European Union would join China and Canada in the imposition of retaliation tariff Promoting products for billions of consumers and pushing economies around the world to recession.
The 27 block faces 25% import tariffs on steel and aluminum and cars, and “reciprocal” tariffs of 20% from Wednesday for almost all other goods.
Trump tariffs affect about 70% of European Union exports to the US. For a total value of US $ 585,000 million last year, which will probably add tariffs on copper, pharmaceutical products, semiconductors and wood.
The European Commissionwhich coordinates the commercial policy of the European Union, will propose to members late on Monday a list of American products to which additional tariffs will be applied in response to Trump’s tariffs on steel and aluminum, instead of the broader reciprocal levies.
The 27 nations block faces import tariffs of 25% on steel and aluminum and cars and cars and “reciprocal” tariffs of 20% from Wednesday for almost all other goods.
Trump tariffs affect about 70% of European Union exports to the US for a total value of US $ 585,000 million last year, last year, to those who will probably add tariffs on copper, pharmaceutical products, semiconductors and wood.
The European Commission, which coordinates the commercial policy of the European Union, will propose to its members late on Monday a list of American products to which additional tariffs will be applied in response to Trump’s tariffs on steel and aluminuminstead of broader reciprocal levies.
It is expected that you include meat, cereals, wine, wood and US clothes, as well as gum, dental thread, vacuum cleaners and toilet paper.
A product that has received more attention and exposed discord in the block is the bourbon. The commission has planned a 50%tariff, What has led Trump to threaten with a 200% tariff to alcoholic beverages of the European Union if the block continues.
Wine exporters France and Italy have expressed concern. The European Union, whose economy depends largely on free trade, wants to make sure to have broad support for any response, In order to maintain the pressure on Trump so that, ultimately, entable negotiations.
Luxembourg will host the first political meeting of the European Union since the Trump announcement of the generalized tariffs, in which the ministers of Trade from 27 union members will exchange points of view on the impact and the best way to respond.
Diplomats of the European Union said that the main objective of the meeting was to leave with a united message of desire to negotiate with Washington a elimination of tariffs, but willing to respond with countermeasures if that failed.
“Our greatest fear after Brexit were bilateral agreements and the rupture of the unitbut over three or four years of negotiations that did not happen. Of course, here the story is different, but everyone sees interest in a common commercial policy, “said a diplomat of the European Union. It is planned to include meat, cereals, wine, wood and US clothing, as well as gum, dental thread, vacuum clezers and toilet paper.
The Bourbon is one of the products that has raised the most attention and that has revealed the discord in the block. The commission has planned a 50% tariffwhich has led Trump to threaten with a 200% counter to the alcoholic beverages of the European Union if the block continues.
Wine exporters France and Italy have expressed concern. The European Union, whose economy depends largely on free trade, wants to make sure to have broad support for any response, In order to maintain the pressure on Trump so that, ultimately, entable negotiations.
Counterarance
Among the members of the European Union, there is a spectrum of opinions on how to respond. France has said that the union must work in a package that goes far beyond the tariffs and the French president, Emmanuel Macron, He has suggested that European companies suspend investments in the US until “things are clarified.”
