The EU responds to the United States with an additional fee
23/6/2018 12:00 am
[rtl]Imposed on US products
Capitals / follow-up
The European Union began countermeasures in imposing additional duties on a range of US goods in response to the US decision to impose tariffs on European steel and aluminum imports.
The official newspaper of the European Union published a list of American products covered by the additional fees, which include American clothes, alcoholic beverages, motorcycles and others.
A series of what has become known as the tariff dispute began with the announcement by President Donald Trump in March of imposing tariffs on his country's steel and aluminum imports to announce later that the European Union and other countries would be exempted from such fees for a limited period in order to seek another offer from the Europeans to satisfy his administration.
Has not responded to his partners on the other side of the Atlantic to launch a trade war between the giants of the world economy ignited by Washington on several fronts.
That war grew hotter with the failure of the Group of Seven summit held in Canada this month, and unusually a final statement after Trump withdrew his support for the failure of summit leaders' efforts to reach agreement on trade among themselves.
US trade war with its Western partners is paralleled by another war against China. Economic analysts believe the consequences of US sanctions, tariff increases and countermeasures will stifle trade movements around the world.
Capital market indices around the world fell following US President Donald Trump's threat to impose more tariffs on Chinese goods.
The Dow Jones industrial average fell more than 300 points, or 1.6 percent, during the opening session, following strong declines in Asian and European markets earlier.
Trump threatened to impose more tariffs on Chinese goods worth 200 billion dollars, raising concerns about a trade war.
Trump said he would impose those tariffs if China refused to change its practices, condemning "China's unfair practices in the seizure of intellectual property rights and American technology."
"Instead of changing their practices, China now threatens US companies, workers and farmers, who have done nothing wrong," he said.
The stock market reacted negatively, with the Shanghai Composite Index the worst, ending the day down 3.8 percent.
In Europe, Germany's DAX and France's CAC 40 fell 1.5 percent each.
Far from Trump's threats to China, Russia has said it will impose tariffs on certain US goods in response to recent tariffs imposed by Washington on imports of steel and aluminum.
Russian Economy Minister Maxim Urshkin said tariffs would target goods with local counterparts.[/rtl]