EU Retaliation for U.S. auto tariff news by Hebei Longsheng
| EU's ready retaliation for U.S. auto tariffs bodes ill for trade talks EU Trade Commissioner Cecilia Malmstrom has stated that proposed trade talks with the U.S. will only be a limited deal "on industrial goods only". Should the U.S. apply automotive tariffs – as President Donald Trump has repeatedly threatened to do if a deal is not reached – the EU is already putting together a list of "rebalancing measures". These could cover a similar value of products, or similar value of tariffs on a different set of products. EU exports of cars and parts to the U.S. in the 12 months to Nov. 30 were worth $63.7 billion. Press reports suggest retaliatory targets could include construction and agricultural machinery from Caterpillar or Deere, total U.S. exports of which were worth $1.72 billion the past 12 months. Other targets include Xerox or Fuji’s printers, worth $882 million, or luggage are of insufficient value to deliver enough retaliation suggesting a wider range of products will be needed. |
