European Union retaliatory tariffs on USA goods go into effect

Report: German automakers offer to end EU's tariff's on US autos

The retaliatory measure comes in response to USA tariff hikes on steel and aluminum that were imposed on European Union member countries on June 1, with the White House citing grounds of national security.

European consumers would be able to find "alternatives", European Commission Vice President for trade Jyrki Katainen said.

The European Commission formally adopted a law putting in place the duties on €2.8 billion (S$4.4 billion) worth of U.S. goods, including steel and aluminium products, farm produce such as sweetcorn and peanuts, bourbon, jeans and motorcycles.

The U.S.is also locked in a tariff showdown with China, after President Trump said he would use the import taxes to try to shift the balance of trade between the world's top two economies.

"We oppose the act of extreme pressure and blackmail by swinging the big stick of trade protectionism", a China's Commerce Ministry spokesman said Thursday.

Trump said Monday that China's decision to retaliate in kind against his first batch of $50 billion in tariffs required a US response to encourage Beijing to change its unfair practices.

The European Union's retaliatory tariffs come into force today targeting American products, including whiskey, motorcycles and peanuts. India and Turkey have already targeted USA products, ranging from rice to autos to sunscreen.

Brussels imposed the raft of duties on U.S. products worth 2.8 billion euros (S$4.4 billion) in a tit-for-tat response to Trump's decision to slap stiff tariffs on European steel and aluminum exports.

US Forces in Afghanistan Launch Strike Against top Islamic Militants
The Afghan Taliban announced their cease-fire after Ghani unilaterally declared a temporary cease-fire for the holidays on June 7. Fazlullah assumed leadership of the Pakistani Taliban after Hakimullah Mehsud was killed in a US drone strike in 2013.

President Trump said the measures against the EU are meant to protect US national security interests, but the Europeans claim it can not be that close allies, many of them North Atlantic Treaty Organisation partners, would endanger USA security.

However, many lawmakers have expressed concerns that the tariffs will escalate into a trade war that will ultimately hurt American interests.

Brussels first drew up the list in March when US President Donald Trump initially floated the idea of 25 percent tariffs on steel imports and 10 percent on aluminium.

However, the European Union has introduced a 50% duty on goods such as footwear, some types of clothing and washing machines.

Economists noted that the amount of money involved with India's levies dwarfed in comparison with that of China - U.S. -India trade was $126 billion a year ago, while U.S.

White House National Trade Council Director Peter Navarro on the Trump administration's proposed Chinese investment restrictions. Trump would start July 6 by taxing $34 billion worth of products and later add tariffs on an additional $16 billion in goods. Bejing will respond in kind. All told, the $450 billion in potential tariffs would cover almost 90 percent of goods China sends to the United States.

Trade representatives from India and the United States are set to meet in New Delhi next week.

"The president has been so belligerent that it becomes nearly impossible for democratically elected leaders - or even a non-democratic leader like (Chinese president) Xi Jinping - to appear to kowtow and give in", said Philip Levy, senior fellow at the Chicago Council on Global Affairs and a former White House trade adviser.

Related news:

Hot News

isis-killer-beheading-video-story-top Chelsea striker could be involved in swap-deal to sign world-class player
Jun 22, 2018 - 16:05
He also netted 34 times during the previous campaign after being converted to a striker by the incoming Chelsea manager. At Chelsea I think it will be the same.' He added.

isis-killer-beheading-video-story-top New 'Time' Cover Highlights the Cruelty of Trump's Immigration Policy
Jun 22, 2018 - 14:24
An upcoming Time magazine cover will be mash-up sure to spur passions in the nation's ongoing immigration debate. Time magazine has always known to come up with unique covers of raging issues and this time it's no different.

isis-killer-beheading-video-story-top UK's May pleads for Conservative unity on Brexit votes
Jun 22, 2018 - 12:34
His resignation letter said that had wanted the United Kingdom to have as frictionless a deal as possible with the European Union. In a statement, Corbyn defended his decision to oppose the EEA vote, despite telling his MPs to abstain in parliament.

isis-killer-beheading-video-story-top Teenager Mbappe makes history as France battle into World Cup last 16
Jun 21, 2018 - 20:58
Midfielder Pedro Aquino went closest to levelling when his stunning strike cannoned off the bar. But it was Peru who had the upper hand after the break.

IGTV is Instagram's take on social video
Jun 21, 2018 - 20:41
There are no ads on IGTV today, but that would be a "reasonable place to end up", Instagram CEO Kevin Systrom said at the event. There will be a stand-alone IGTV app , but the content will also be available on the existing Instagram app.

isis-killer-beheading-video-story-top Senegal fans praised worldwide for what they did after the Poland victory
Jun 21, 2018 - 20:18
The Lions' next match is against Japan on June 24, and we will be enthusiastically watching and rooting for them. Senegal may have the most respectful supporters in the world.

isis-killer-beheading-video-story-top Google introduces Messages, here are 5 new features
Jun 21, 2018 - 20:10
Messages for web is starting to roll out today, with the rest of these features coming to the Messages app over the next week. However, a Messages for web section, according to 9to5google will be added in the overflow menu of Android Messages .

isis-killer-beheading-video-story-top What game were you watching? - Costa bites back at journalist
Jun 21, 2018 - 19:52
Diego Costa was the star against Portugal with a brace, but Iran are likely to be rather more compact than the European champions. Costa's initial strike was blocked but the ball bounced back off him to give La Roja a hard fought win.

isis-killer-beheading-video-story-top Banned Blatter arrives in Russian Federation for World Cup
Jun 21, 2018 - 19:49
Blatter, who led FIFA for 17 years, is serving a six-year ban from "all football activities" for unethical conduct after FIFA was rocked by a global corruption scandal in 2015.

isis-killer-beheading-video-story-top Rescue boat Aquarius finally docks in Valencia
Jun 20, 2018 - 01:04
Through the first five months of 2018, some 35,455 migrants reached European shores, with 11,792 of them arriving in Spain. Malta refused the entrance, stating that it does not have anything to do with this particular rescue mission.

isis-killer-beheading-video-story-top DHS: About 2000 minors separated from families
Jun 20, 2018 - 01:04
On Sunday's broadcast of " Last Week Tonight ", Oliver rebuked President Donald Trump's contention that the law required the action.

isis-killer-beheading-video-story-top Wall Street dips but off earlier lows; Nasdaq flat
Jun 20, 2018 - 00:39
The tariffs were quickly matched by China on USA exports, including lobsters and soybeans, a move that drew the president's ire. Yesterday ( June 18), the Trump administration threatened new tariffs on $200 billion of imported Chinese goods each year.

isis-killer-beheading-video-story-top Meghan Markle, Prince Harry wedding: Thomas Markle breaks silence
Jun 20, 2018 - 00:38
However he apologized to Meghan and Harry, who he said were "very forgiving". "There was no real commitment to it". While he "absolutely wanted to walk [his] daughter down the aisle", Thomas was recovering from heart surgery.

isis-killer-beheading-video-story-top Van Marwijk disappointed with VAR decision after defeat to France
Jun 18, 2018 - 11:44
France had plenty of possession, had a dominant share of possession but struggled to create meaningful chances from open play. Referee Andres Cunha was alerted by the VAR to a possible penalty, reviewed the footage and awarded a penalty to France .

isis-killer-beheading-video-story-top Saudi Arabia Denies Punishing Players for Losing 2018 FIFA World Cup Opener
Jun 18, 2018 - 11:39
In a video he posted on his Twitter page, he said, " These players have made my face go black with embarrassment and fury ". Russia's 5-0 win against Saudi Arabia was the biggest win for a host nation in a World Cup opener since 1934.