HVAC Breaking News

June 3, 2002: European Union Delays Retaliatory Tariffs

June 3, 2002
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WASHINGTON, DC — In response to a concession by the United States government, the European Union has announced a two-week delay in imposing $300 million in retaliatory tariffs against U.S. imports.

Because of the U.S. tariffs that were imposed on imported steel on March 20, and with elections coming up in the U.S., European politicians were planning the imposition of their own tariffs on products from states that could potentially cause political difficulties for the Bush administration, such as Florida orange juice and North Carolina textiles.

However, the U.S. Department of Commerce informed European officials that the administration would be willing to admit more steel from Europe without tariffs.

The U.S. now has until July 3 to decide on how much more steel will be allowed.

Publication date: 06/03/2002

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