Newsdeck: EU Takes Aim at Trump's Heartland With Tariff-Retaliation Plan By Bloomberg
The European Commission began a public consultation over the American products ranging from ketchup and nuts to video-game consoles and bicycle pedals. The World Trade Organization will ultimately decide the level of damages the EU can seek, with a verdict possible toward the end of this year or in early 2020.
“European companies must be able to compete on fair and equal terms,” EU Trade Commissioner Cecilia Malmstrom said in an emailed statement on Wednesday in Brussels. “We must continue to defend a level-playing field for our industry.”Crosscurrents are rippling through transatlantic trade ties as the EU and U.S. prepare for negotiations on removing industrial tariffs.
So far, the EU has applied tit-for-tat tariffs on 2.8 billion euros of American goods in response to Trump’s metal duties and threatened to hit a further 20 billion euros of U.S. products with levies should Washington restrict automotive imports.
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