TRADE WAR: Europe Strikes Back Against Trump’s Tariffs TRADE WAR: Europe Strikes Back Against Trump’s Tariffs – NTK Network

TRADE WAR: Europe Strikes Back Against Trump’s Tariffs

The EU pledges to retaliate against U.S. tariffs on steel and aluminum with levies of their own for a series of American goods.

By NTK Staff | 03.06.2018 @9:30am
TRADE WAR: Europe Strikes Back Against Trump’s Tariffs

In the wake of President Donald Trump’s surprise announcement that the U.S. would soon administer a tariff on all imported steel and aluminum, the European Union is preparing retaliatory tariffs of their own on imported U.S. goods according to Bloomberg News.

The EU’s levies aim to target the U.S. heartland, the very constituency Trump hoped to boost economically with his tariffs. Among other products, the EU is planning a 25 percent tariff on products like jeans, motorcycles, and bourbon:

Targeting 2.8 billion euros ($3.5 billion) of American goods, the EU aims to apply a 25 percent tit-for-tat levy on a range of consumer, agricultural and steel products imported from the U.S. if Trump follows through on his tariff threat, according to a list drawn up by the European Commission and obtained by Bloomberg News. The list of targeted U.S. goods — including motorcycles, jeans and bourbon whiskey — sends a political message to Washington about the potential domestic economic costs of making good on the president’s threat.

There appears to be a method to the EU’s madness. Harley Davidson motorcylces are manufactured in House Speaker Paul Ryan’s home state of Wisconsin. Bourbon whiskey is made throughout Senate Majority Leader Mitch McConnell’s Kentucky. And blue jean giant Levi Strauss is headquartered in House Minority Leader Nancy Pelosi’s hometown of San Francisco.

EU leaders are expected to continue tariff talks on Wednesday, when they will also discuss filing a formal complaint against the U.S. with the World Trade Organization.

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