EU reportedly warns of new tariffs worth $300 billion if Trump targets automakers

Monday, July 2, 2018 | Tag Cloud Tags: , , , , , , ,

(Worthy News) - The United States could get a new round of retaliatory tariffs worth as much as $300 billion, if it moves ahead with new duties on European cars, the Financial Times reported.

In a written statement to the U.S. Department of Commerce, seen by the news publication, the EU set out clear plans to respond to potential U.S. duties on European cars. According to the newspaper, European leaders are getting more convinced that President Donald Trump will put new tariffs on European cars.

The written submission sent by the EU also highlighted that European-owned car brands represented more than a quarter of U.S. car production. It added that this was mainly focused on exportation and any tariffs would fragment markets, raise prices for the American consumer and potentially lead to job losses. [ Source: CNBC (Read More...) ]

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1 thought on “EU reportedly warns of new tariffs worth $300 billion if Trump targets automakers

  1. Tell You What! Let's just remove our military bases from Germany and a few other key European countries ...... and we won't apply any tariffs.
    Hmmm, THAT should save the U.S about the same amount of $$, since we won't be supporting the economies of the European countries with our military bases.

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