As Trump hikes China tariff, EU jawboned to battle over auto tariffs


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As Trump hikes China tariff, EU jawboned to battle over auto tariffs

After US President Trump had done raising tariff on $200 billion worth of Chinese imports and begun paperwork to put further tariff on $325 billion of Chinese imports, which remained untouched so far amid a ten-month-long & escalating Sin-US trade war, the US President could heat up tariff battles on Europe next week.

As of now, the European Union had been kept on the side-bench in the tit-for-tat tariff battle between the world’s first- and second-largest economic superpowers, however, EU, a 28-nation pact of European countries excluding Britain, would likely to feel the pinch of a tariff hike next week, when US President is due to make a decision on an additional tariff over European autos, as a part of his “America First” policy and “protectionism” to prompt European automakers invest more on US soils to avert from the tariff hike.

Although, leaders of the bloc had long been sprouting that they would not be involved in a boardroom meeting on Trump’s tariff agenda with a racing gauntlet of repeated threats pointed towards their head, possibilities of a US tariff decision to impact more than $53 billion worth of European cars and auto parts, had at last brought them into the table.

Nevertheless, despite all speculations, automakers had been expecting an extension of tariff hike deadline up to six months, though, chances of imposing new duties on a near-term outlook had not yet been evaporated.