Tariff war: Trump threatens to impose 20% tariff on EU car imports
Tariff war: Trump threatens to impose 20% tariff on EU car imports
Share:

 

Washington [United States], June 23 (NT): Taking ahead one step more towards tariff war United States President Donald Trump on Friday threatened to slap a 20 per cent tariff on imports of cars from the European Union (EU).

"Based on the Tariffs and Trade Barriers long placed on the U.S. and it great companies and workers by the European Union, if these Tariffs and Barriers are not soon broken down and removed, we will be placing a 20% Tariff on all of their cars coming into the U.S. Build them here!," taking to his official twitter handle Trump said.

Section 232 probes into the national security implications of automobile imports, which was initiated by the Trump administration last month has provoked widespread opposition from U.S. politicians, business groups and major trading partners, as Xinhua reported.

Wilbur Ross, U.S. Commerce Secretary on Thursday stated that the Commerce Department has palns to end its inquiry into automotive imports by late July or August. The department would then be ready with its report and proposal before November.

On May 31, the Trump administration had used the same domestic law to slap additional tariffs on steel and aluminum imports. Countries including, EU, Canada, Mexico had then declared retaliatory measures against U.S. steel and aluminum tariffs, stating that the U.S. is breaching the rules of the World Trade Organization (WTO).

In act of vengeance to US' tariffs, the EU on June 20 stated that it will also slap retaliatory tariffs on a list of U.S. products starting from June 22.

 According to ANI the list of U.S. imports worth 2.8 billion euros (3.24 billion U.S. dollars) will now face additional duty at the EU border and it will be imposed on steel and aluminum products, agricultural goods and a combination of various other products.

The additional tariffs on the remaining U.S. products valued at 3.6 billion euros will be slapped later.

"We did not want to be in this position. However, the unilateral and unjustified decision of the U.S. to impose steel and aluminum tariffs on the EU means that we are left with no other choice," EU Trade Commissioner Cecilia Malmstrom  was quoted by Xinhua as saying. (NT)

 

 

 

Join NewsTrack Whatsapp group
Related News