New EU tariffs hit bourbon, clothes and HVAC equipment
Duties are in response to US aluminum, steel tariffs
Europeans who have a fondness for Kentucky bourbon or Harley-Davidson motorcycles will now pay more for the products, as the EU has slapped a number of signature American exports with tariffs.
The taxes, which range from 10-50 percent, are retaliation for President Donald Trump’s decision to levy a 25 percent duty on imported steel and a 10 percent duty on imported aluminum from most countries, including Canada, Mexico and the European Union.
The duties hit products such as blue jeans and shoes, and also impact construction materials including HVAC equipment.
EU officials said the tariffs represent $7.5 billion worth of trade. European Commission President Jean-Claude Juncker said the 28-nation bloc will not be bullied.
“This is protectionism, pure and simple,” he said. “Over the past months we have continuously engaged with the U.S. at all possible levels to jointly address the problem of overcapacity in the steel sector. Overcapacity remains at the heart of the problem and the EU is not the source of but on the contrary equally hurt by it. … We have also consistently indicated our openness to discussing ways to improve bilateral trade relations with the U.S. but have made it clear that the EU will not negotiate under threat.”
A number of other affected countries have also retaliated, including Canada, Mexico, China and India.
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