Global Trade Tensions: EU implements rebalancing measures against US in tariffs response
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02:29
Levi Jeans, and Harley Davison. Well known US brands about to take a big hit. On Friday, the European Union counter-punched 6.4 billion euros worth of US tariffs slapped on EU steel and aluminium exports in May with its own tit-for-tat tariffs. The bloc's rebalancing measures will target 2.8 billion euros of American goods with immediate effect. But the US could also be hit with a further 3.6 billion euros worth of tariffs down the line if the dispute cannot be resolved at the World Trade Organization within three years. 
ALEXANDER WINTERSTEIN, DEPUTY EU COMMISSION SPOKESPERSON "As the president has outlined, as the trade Commissioner Cecilia Malmstrom has also said at several occasions, this response by the European Union is adequate, it is proportionate, it is reasonable. And it is needless to say it is in full respect of EU and WTO rules."
The list of US imports - that will immediately face an extra 25% duty at the EU border includes steel and aluminium products, but also targets more day to day consumer items such as sweetcorn, maize, rice, orange and cranberry juice, peanuts, bourbon whiskey, cigarettes and other tobacco products, clothing such as jeans, bed-linen. Also thrown into the mix: motorbikes, mopeds and sailboats.
Levi Jeans have issued a statement. They say US brands, workers and consumers will ultimately suffer. And the EU counter-tariffs have caught the wrath of US President Donald Trump. On Friday he threatened to impose a 20% levy on European cars if the EU continues with its tariffs on US goods. But are EU consumers concerned about the impact of this latest transatlantic spat. At this Irish pub in Brussels, the only losers will be American spirits. 
WILSON, BARMAN AT KITTY O'SHEA'S PUB, BRUSSELS "People are just going to walk away from it. Why would you pay double the price of something that's not as good as a Scottish whiskey from the Highlands or an Irish Whiskey from the North-West or South -West or from Cork. So it doesn't make sense to me."
MARIAM ZAIDI, BRUSSELS "As fear spreads that a full-blown trade war is approaching, world markets have already shown jitters. But as the EU rebalances itself against the US, it's also cast its eye down under. The EU trade commissioner is currently touring Australia and New Zealand to officially kick off trade talks. Mariam Zaidi, CGTN, Brussels."