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08:17, 21-Jun-2018
EU’s counter-tariffs on US products to come into effect on Friday
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The EU will start charging import duties of 25 percent on a range of US products from Friday after Washington imposed tariffs on EU steel and aluminum at the start of June, the European Commission said on Wednesday.
The Commission formally adopted a law putting in place the duties on 2.8 billion euros (3.2 billion US dollars) worth of US goods, ranging from agricultural produce such as rice and orange juice to jeans, bourbon, motorbikes and various steel products.
“We did not want to be in this position," said EU Trade Commissioner Cecilia Malmstrom in a statement, adding "However, the unilateral and unjustified decision of the US to impose steel and aluminum tariffs on the EU means that we are left with no other choice."
The higher tariffs had been registered with the WTO.
“The rules of international trade that we have developed over the years with our American partners cannot be violated without a reaction from our side," Malmstrom said, noting that EU’s countermeasures are “measured, proportionate and fully in line with WTO rules”.
Other economies like Canada and Mexico have also announced their similar counter-tariffs.