EU, Trump and Indonesia
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The European Union could target Boeing and whiskey-maker Brown-Forman under its plans for retaliatory tariffs if the bloc can’t reach a trade deal with the U.S.
Officials have secured an agreement across the bloc to slap tariffs on US goods, ranging from US-made cars to bourbon whiskey.
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Amazon S3 on MSNEU Hits Back: €72 Billion Tariff List Targets US GoodsThe EU just unveiled a dramatic €72 billion list of US goods facing possible retaliatory tariffs as tensions skyrocket over Washington's threat to impose 30% duties on EU imports starting August 1. In an extraordinary meeting in Brussels,
If implemented by the 1 August deadline, the move could derail $1.7 trillion worth of transatlantic commerce and force the EU to reconsider its export-reliant economic structure.
A US tariff of 30% would “stop trade as we know it” with the EU, Ireland’s foreign affairs minister has said. Simon Harris was echoing comments from the EU Trade Commissioner Maros Sefcovic who said on Monday that such a tariff would effectively “prohibit” trans- Atlantic trade.
Things aren’t looking good for Mexico either. In a letter addressed to Mexican President Claudia Sheinbaum, Trump said that while the country had been “helping me to secure the border.” However, if Mexico wants the US to adjust the levies, it needs to be “successful in challenging the Cartels and stopping the flow of Fentanyl.”
Unlike the European Union, the Japanese government has made no indication it plans to impose any kind of reciprocal tariff on the U.S.
The European Union braced on Friday for a possible letter from U.S. President Donald Trump outlining planned duties on the United States' largest trade and investment partner after a broadening of his tariff war in recent days.