White House mulls new trade weapon for EU talks: ‘Carousel’ tariffs
(Worthy News) – The Trump administration is reportedly considering a novel source of leverage against the European Union in seeking a trade deal: “carousel” retaliation, meaning tariffs applied to a shifting set of products.
The practice is rarely used but considered particularly disruptive because it would create uncertainty across a range of industries that would have to cope with the prospect of tariffs.
“Anything that creates significant chaos and uncertainty can have a significant chilling effect on trade,” said Jennifer Hillman, a senior fellow for trade and international political economy at the Council on Foreign Relations and a Georgetown University Law Center professor. “Particularly if there is little advanced notice because the tariffs will apply to goods on the water, so shipping anything from the EU to the U.S. becomes risky.” [ Source: Washington Examiner (Read More…) ]
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