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EU Approves Retaliatory Tariffs Against The United States Worth $3.3 Billion

DIVYIA ASTHANA | 0
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| June 15 , 2018 , 14:27 IST

Member nations of the European Union (EU) on Thursday approved retaliatory tariffs worth $3.3 Billion (2.8 billion Euros) against the US, targeting US goods such as whiskey and motorcycles after US President Donald Trump announced tariffs on steel and aluminium imports from the EU.

"Member states have today unanimously supported the commission's plan for the adoption of rebalancing measures on the US tariffs on steel and aluminium," a European Commission source told AFP on Thursday on the condition of anonymity.

"The EU will exercise its rights on US products valued at up to 2.8 billion euros of trade, as notified to the WTO (World Trade Organisation)," the commission source added.

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In the year 2017, the EU imported approximately $481 million worth of items from the US, in addition to another $173 million worth of whiskey.

The EU tariffs would likely be implemented by the beginning of July.

Although the list does not specifically name brands, European Commission chief Jean-Claude Juncker specified that the bloc was "preparing import duties for US products including Harley-Davidson, bourbon and Levi's jeans."

Other items targeted include food products targeted include cranberries, cranberry juice, sweet-corn and peanut butter, clothing including 'trousers and breeches of cotton denim', bed linen, men's leather footwear, eye make-up and lipsticks.

US President Trump had on June 1 announced tariffs on steel and aluminium imports from Canada, the European Union and Mexico, drawing backlash from all 3 and vows of retaliatory tariffs.