U.S. and EU Trade Dispute Escalates, U.S. Plans to Impose High Import Taxes on EU Products

The President of the United States insists on imposing import duties of no less than 15-20% on EU products!

For weeks, Brussels has been negotiating with Washington to reduce the US import duties on most EU products to 10%, and the EU is not prepared to reach an agreement involving a 15% import duty.

Previously, the US announced that it would impose a 30% import duty on all EU export products from August 1, in addition to a 10% import duty on EU steel, aluminum, and cars. The President of the European Commission, Ursula von der Leyen, stated that this would disrupt transatlantic supply chains and called for an agreement before August 1. EU Trade Commissioner Maros Sefcovic confirmed that the EU will seek to cancel the US import duties, but at the same time, if the negotiations fail, the EU has already prepared a list of US export goods worth 72 billion euros per year to impose retaliatory import duties.

Original article: https://www.toutiao.com/article/1838019963341836/

Statement: This article represents the personal views of the author.