Europe to Impose New Tariffs on US Goods
The European Union is set to impose tariffs Friday on billions of dollars worth of American goods — including jeans, bourbon and motorcycles.
The action is the latest retaliation against U.S. President Donald Trump’s decision to slap import tariffs on steel and aluminum from around the globe.
The U.S. is scheduled to start taxing more than $ 30 billion in Chinese imports in two weeks.
China has promised an immediate retaliation, a measure that would put the world’s two largest economies at odds.
John Murphy, a U.S. Chamber of Commerce senior vice president, estimates that $ 75 billion in U.S. products could be subjected to new foreign tariffs by the end of July.
“The U.S. is abusing the tariff methods and starting trade wars all around the world.” said a spokesman for China’s Commerce Ministry.
“Clarity (is) still lacking about how far things will ultimately go between (the) U.S. and China and the potential ripple effect for world trade,” said financial analyst Mike van Dulken.
During his presidential campaign, Trump promised to apply tariffs because he said countries around the world had been exploiting the U.S.
Source: VOA news