EU retaliatory tariffs to target 20 billion euros of US import

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EU retaliatory tariffs to target 20 billion euros of US import

The European Union Commission had pulled up a list of US imports worth of $22.6 billion (20 billion euros), which it would likely to hit with an additional retaliatory tariff to answer Trump administration’s added tariff on $11 billion worth of EU goods.

Never the less, origin of this US-EU tariff war had been closely linked to a decade long transatlantic aircraft subsidy dispute, which had recently flamed up on groundings of Boeing 737 Max by EU aviation authorities, which eventually prompted other nations to issue similar injunction on Boeing’s best-selling aircraft model.

On last Tuesday (April 9th), US President Donald Trump had threatened European nations of imposing tariffs on $11 billion worth of EU goods, saying that unfair subsidies were given to European planemaker & Boeing rival, Netherland-based Airbus and EU had been taking advantages of United States for long on a transatlantic aircraft subsidy dispute.

Trump’s tweet on Airbus dispute and a public tariff battle with EU came forth, as EU commission had been claiming the same complaints against US-borne low-cost aircraft carrier maker Boeing Co. Earlier this week, the EU commission had said that they were being prepared for talks with United States on tariff issue, never the less, it had been the first time EU showed some kind of resilience against US tariffs, after months Trump had expressed his intent to put additional tariff on Europe-made autos to force the automakers build additional manufacturing plants in United States.