The European Commission has readied a list of U.S. products which could see a rise in import duty if the U.S. Administration delivers on its threat of imposing 10% import duty on EU aluminum and 25% import duty EU Steel.
The European Commission stated it could subject U.S. products ranging from cosmetics, Harley Davidson motorcycles, clothings to orange juice and others to EU duties if U.S. President Donald Trump carries out his threat to impose global import duties on aluminum and steel.
The European Commission has said it would respond “firmly” to Trump’s proposed U.S. import duties of 25% on steel and 10% on aluminum. To this end, it has already drawn a list of U.S. products which could potentially attract a duty of 25%.
These countermeasures are naturally subject to the actual imposition of import tariffs by the Trump Administration on EU aluminum and steel.
Subject to the tariffs scheduled to be announced by Trump formally later this week, the European Commission is expected to hold a short public consultation of its proposed counter measures, before presenting it to EU member states.
As per World Trade Organization rules, counter-measures would have to be brought in within three months of a U.S. decision on tariffs.