EU proposes tariffs on US goods in response to Trump steel tariff threat
The European Commission has reportedly proposed tariffs of 25 percent on imports of US steel, clothing and other industrial goods in retaliation to President Donald Trump's proposed tariffs on steel and aluminum.
The executive arm of the European Union reportedly plans to target $3.5 billion of goods imported from the US, including T-shirts, whisky, motorcycles and ladders, if Trump decides to implement international duties on steel and aluminum.
The list of goods was revealed in a report by Bloomberg today, which cited a draft list drawn up by the commission. According to the report, the commission discussed the retaliatory levy on US goods with representatives of EU governments on Monday evening.
Last week, Trump announced tariffs of 25% on imports of steel and 10% for aluminum imports. The president is unhappy with what he perceives to be imbalanced trade between the US and other countries.
In response, European Commission President Jean-Claude Juncker said the trade bloc would "not sit idly" if Trump goes ahead with his planned tariffs.
Following Juncker's comments, Trump warned the US would apply a tax on European cars if the bloc wants to increase tariffs on American firms, a statement that has rattled European automakers.