European Union plans to impose tariffs on United States products in order to retaliate on President Donald Trump’s decision of imposing tariffs on steel and aluminum imports from Europe. The announcement was made by Maros Sefcovic (European Commission Vice-President) recently and he stated that the new duties will start applying from July this year (2018). According to the report, the tariffs will be on about 2.8 billion euros ($3.4 billion) worth of United States steel, agricultural and other products, including bourbon, peanut butter, cranberries and orange juice. On June 1, 2018, President Trump imposed tariffs on imported steel (25 percent) and aluminum (10 percent) from European Union, Canada and Mexico. Trump said his action is to protect U.S. national security interests, but European Union said that it breaks global trade rules.
Source: Viewers Corner News.
