Global Trade Tensions: EU revs up commercial battle with US
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The European Union is imposing hefty tariffs on hundreds of US goods, starting on Friday. The move follows US tariffs imposed on EU metal products, the first broadside in what is turning into a global trade battle. CGTN's Owen Fairclough has more.
From the French Alps to the Spanish capital Madrid, Harley Davidson has enjoyed healthy growth in Europe this year. But for how much longer if these easy riders have to pay a lot more for their passion. The EU is imposing tariffs of 25 percent on Harleys and other US made products from orange juice to whiskey, worth more than 3 billion dollars. Craft distillers, who've enjoyed huge growth in Europe, fear their products will become too expensive to export. The EU is retaliating against the Trump administration imposing 25 percent duties on metal imports from Europe, arguing an oversupply of cheaper imports threaten U.S jobs.
OWEN FAIRCLOUGH WASHINGTON "This trade conflict is following a familiar pattern. In the same way that Donald Trump has threatened to ramp up tariffs against China, the EU is threatening additional duties of up to 50 percent on goods worth nearly four billion dollars."
And, in a timely reminder that there are always alternative partners to seek out, the EU has gone Down Under to start free trade talks with Australia and New Zealand. Owen Fairclough, CGTN, Washington.