Trade War is Hot, Trump Threatens European-Made Cars

Jakarta -The trade war again heated up after US President Donald Trump again threatened to impose a 20% import tariff on all European-made cars.

Trump affirms his threat via Twitter just as the EU’s retaliation policy applies to attack aluminum and steel tariffs that first set the US.

“Tariffs and trade barriers have long been imposed on the US and that benefits large companies and EU workers, if these tariffs and barriers are not promptly decomposed and removed, we will impose a 20% import tariff on all of their [EU] cars coming to the US. Make the car here! ” said Trump, Friday (06/22/2018) local time.

As is known, the EU retaliation policy is shown for US exports of goods valued at approximately US $ 3.2 billion. The EU will impose a 25% import tariff on Harley-Davidson Inc. motorcycles, jeans from Levi Strauss & Co., and bourbon beverages.

Bloomberg data show that there are 200 categories of US exports that will be subject to tariffs from the EU, including cigarettes, t-shirts, various types of maize, orange juice, ships, cosmetics, and steel.

Trump’s attack on the European automotive industry is feared to expand the impact of a trade war that has previously been sticking with China.

The US will impose a 25% import tariff on Chinese export goods starting July 6, 2018. In return, China will apply the same tariff to US export goods entering the Panda Country

The US Ambassador to Germany Ric Grenell was in Washington this week seeking an agreement on trade tariffs to be imposed on the automotive product.

Grenell has spoken with White House trade advisor Peter Navarro, Trade Secretary Wilbur Ross, US Trade Representative Robert Lighthizer, and Finance Minister Steven Mnuchin about tariff reductions on automotive product trade between the US and Germany.

Reportedly there has been support from the German Government and from the German carmaker for the idea of ​​tariff reduction, but no agreement has been reached.

What do you think?

Written by DI

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

6 DSLR and Mirrorless Cameras Under Rp 5 Millions

Foxconn CEO Concerned about US-China Trade War