European Union to impose countertariffs on United States products as of Friday

Marco Green
June 20, 2018

Peanut butter and bourbon whiskey among products on list.

The European Union on Friday will slap billions in additional tariffs on US exports in reaction to President TrumpDonald John TrumpConservatives express concern over House GOP immigration bill Poll: McSally holds 14-point lead in Arizona GOP Senate primary Trump defends Nielsen amid criticism over family separations MORE's steel and aluminum tariffs.

The European Union will begin charging import duties of 25 percent on a range of US products on Friday, in response to U.S tariffs imposed on EU steel and aluminum early this month, the European Commission said on Wednesday.

"We did not want to be in this position", EU Trade Commissioner Cecilia Malmstrom said in a statement. Europeans claim that is simply protectionism and breaks global trade rules.

"The rules of worldwide trade that we have developed over the years with our American partners can not be violated without a reaction from our side", Malmstrom said.

The EU also launched legal proceedings against the the WTO on June 1.

"We do not want to be in this position", EU Trade Commissioner Cecilia Malmstrom said in a statement, adding that the "unilateral and unjustified" USA decision had left the EU with no choice.

The EU has said that the USA has no grounds for implementing the national security policy and is instead moving to protect American industries.

Economists note that on the whole, the USA and European Union tariffs will not immediately cause great damage to either side's economy.

What tariffs is the European Union imposing?

The EU, which is the world's biggest trading bloc, has taken its case to the World Trade Organization. She called the EU's response "measured, proportionate and fully in line with WTO rules".

US and European Union flags are pictured during the visit of Vice President Mike Pence to the European Commission headquarters in Brussels, Belgium February 20, 2017. That comes after the USA put a 25 percent tariff on $34 billion of Chinese goods, to which Beijing responded by imposing an identical charge on the same amount of American goods.

Other reports by Click Lancashire

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