The EU has lodged an official complaint at the World Trade Organization. They want to introduce countermeasures, like tariffs on US products like bourbon whiskey, motorcycles and jeans worth some €2.8 billion ($3.3 billion).
In the wake of US tariffs on steel and aluminum, the EU has made several counter moves and has now raised tariffs of its own on steel imports which exceed quotas based on current levels.
The EU has slammed US President Donald Trump's plans to raise tariffs of up to 25 percent on imported cars. 'A solution in search of a problem' is how EU trade commissioner Cecilia Malmstrom put it.
The trade conflicts between the US and several of its biggest partners are escalating. Among those wary of the consequences are American companies and thousands are scrambling to be made exempt from certain tariffs.
With trade conflicts brewing around the world, this weekend’s G20 meeting of finance ministers in Argentina might not be the most fun place to be on the planet. Yet critical questions will be on the agenda.
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