In relation to trade conflict au USA The European Commission is preparing further peculiar customs duties for exports from the United States worth up to EUR 95 billion. According to the Brussels office, if negotiations with Washington neglect to resolve, additional taxes may be imposed on industrial and agricultural products specified as cars, sweet potatoes and whisky.
The current deadline is July. This marks the end of the 90-day deadline set by US president Donald Trump to submit bids by the European Union. If this is not enough, it wants to impose fresh advanced peculiar duties on imports from the EU. They would be an addition to the peculiar tariffs already in force.
The EU considers US duties to be unjustified
The president of the United States wants to correct the alleged trade imbalance with customs and decision production to the United States. At the same time, customs gross is at least partially intended to finance his costly electoral promises regarding crucial taxation reductions. However, the European Union considers that duties are unjustified and incompatible with the WTO rules. It so intends to counterattack if an amicable agreement is not reached. Meanwhile, the U.S. and the United Kingdom announced a trade agreement on Thursday.
"The EU remains determined to accomplish the negotiated result from the US. We are convinced that good agreements can be reached for the benefit of consumers and businesses on both sides of the Atlantic," said European Commission president Ursula von der Leyen on the plans for remedies. At the same time, we are inactive preparing for any possibility.
Additional duties may besides cover machines, parts automotive and air, chemicalsand whisky, rum and wine from the United States. More than a 200-page list of products which the Commission believes can be covered by duties will now be subject to public discussion and discussion in the business environment.
At the same time, there is hope that this list will besides be analysed in the US and that export-oriented companies will push the Washington government to agree with the EU. At the same time, the European Commission intends to sue the U.S. to the planet Trade Organisation (WTO) in connection with the duties, informed the Authority. The Dispute Settlement Committee will then set up a panel of experts to measure whether tariffs violate WTO rules.
In addition to additional fees, the Commission is besides considering the introduction by the EU of export restrictions on certain products worth €4.4 billion. These include steel scrap and chemical products that previously imported American companies. In the event of a failure to negotiate, the re-introduction of the previously agreed peculiar EU tariffs on American products specified as jeans, bourbon, motorcycles and peanut butter has been planned for any time and is no longer controversial.
Recently EU Trade Commissioner Maroš Šefčovič (58) He warned against possible further US duties on European goods. Washington is presently conducting respective inquiries, justifying them on national safety grounds, said a leading politician on Tuesday in a speech in the European Parliament in Strasbourg. If all these investigations lead to the imposition of duties, exports worth an additional EUR 170 billion will suffer.
This means that EU exports to the US worth around EUR 549 billion, which represents 97% of exports, said Šefčovič . That would be a "large amount." According to the European Commission, the US investigation specifically concerns semiconductors, pharmaceutical products and natural materials.
