Cost of some USA goods to rise by 25% on Friday

Ivan Schwartz
June 21, 2018

The products affected will include cigarettes, denim, peanut butter, orange juice, blue jeans, bourbon, and motorcycles.

The European Union will slap USA products with a series of retaliatory tariffs from Friday, it confirmed this morning. "However, the unilateral and unjustified decision of the USA to impose steel and aluminium tariffs on the European Union means that we are left with no other choice", the bloc's trade commissioner Cecilia Malmstrom said in a statement on Wednesday.

Malmstrom said that "we are left with no other choice".

At the start of the month, the United States introduced 25 per cent tariffs on steel and 10 per cent on aluminium, with Mr Trump justifying the move as national security. Europeans claim it is simply protectionism and breaks global trade rules.

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Canada and Mexico have also announced their own similar countermeasures just as an even greater trade skirmish pitting the USA against China deepens.

There is also a notable addition at the end of the long list of products - a 10% tariff on playing cards. The higher tariffs had previously been registered with the World Trade Organization (WTO). A separate 10 per cent levy is being applied to USA playing cards imported into the bloc.

However, President Donald Trump has now asked officials to identify a further $200bn of Chinese goods to be subject to a 10% tariff. Mexico retaliated against the move two weeks ago while Canada said it would place tariffs on U-S exports from July the first.

The EU could levy more tariffs of between 10 percent to 50 percent on billions more in US goods by 2021.

Other reports by GizPress

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