The European Union and India have just separately announced planned tariffs that target over $7 billion in annual exports from the United States in response to the USA tariffs on U.S. imports of steel and aluminum. In recent news, the United States imposed anti-dumping taxes on foreign imports of steel and aluminum. EU was exempt from these tariffs until June 1, 2018 and will now incur 25% additional tariffs on steel and 10% on aluminum.
The EU’s proposed tariff list includes hundreds of items pegged for potential tariffs ranging from corn and rice to whiskey and cigarettes. Somewhat ironically, certain products made in the U.S. from imported raw steel and aluminum were also included in the list. [American Shipper]
The list of U.S. exports slated to receive additional duties consisted primarily of agricultural products like peas, nuts, coffee and soya oil, as well as certain motor vehicles, among other goods. [American Shipper]
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