US Tariffs: Allies retaliate with levies on jam, lamps and sleeping bags

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Europe

01:58

China is not the only target. America's most staunch allies and biggest trading partners are fighting back against US tariffs. CGTN's Wang Tongxuan has the details.

Donald Trump has long been complaining about the trade deficit saying "the U.S. has been ripped off by other countries for years". In March, he decided to slap tariffs on steel and aluminum imports from the EU, Canada and Mexico. All three have already announced to retaliate.

Canada's countermeasures on about 13 billion dollars of US goods will come into effect on the first of July including steel, as well as consumer products such as yoghurt, whiskey and coffee.

The EU bloc released a 10-page list of tariffs on US goods ranging from Motorbikes to jeans.

An amount comparable to the level of damage of US tariffs was also issued by Mexico, designed to cause political difficulties for Mr. Trump.

Elsewhere India, the country has proposed hiking tariffs on 30 US products including food as well as some chemical and metal products.

South Korea says it will suspend tariff concessions on US goods worth close to half a billion dollars. Trump's move has been widely condemned.

CHRISTINE LAGARDE IMF MANAGING DIRECTOR "Unilateral trade actions can be disruptive and may prove counter-productive to the functioning of the global economy and trading system. As I've said before, the so-called 'trade war' driven by reciprocal increases in import tariff gives no winner. And we find generally losers on both sides."

She also said the Trump administration's new tariffs against imports threaten to undermine the rules-based global trading system and damage the global economy. WTX,CGTN.