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US vs EU trade war: Trump hits France and Germany with tariffs after ‘unfair retaliation’.
Due to the EU imposing “unfair” tariffs on US products, the Trump administration has announced it will strike back with similar measures on French and German imports. The US government stated Brussels had imposed tariffs on “substantially” more American products following the result of WTO litigation. Although the WTO authorised the tariffs, the US has stated Brussels had unfairly raised levies.
In a document released by the US Trade Representative, the tariffs affected $4billion (£2.9billion) in US trade products.
In a further warning to Brussels, Washington has demanded the bloc must take additional measures to compensate the unfair tariff restrictions.
Brussels increased tariffs on US aviation parts in September as the longstanding trade dispute continues.
With Brussels using trade data from a period affected by coronavirus restrictions, the Trump administration has imposed tariffs on non-sparkling wine from France and Germany.Certain cognacs and other grape brandies from both countries will also fall under the new tariffs.
The US said in a statement: “The US is forced to change its reference period to the same period used by the European Union.
“The EU needs to take some measures to compensate for this unfairness.”
These tariffs will be applied from January 12 before Joe Biden is sworn into office.
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The EU’s tariffs came in response to the US placing $7.5billion (£5.5billion) worth of levies on European goods beginning in October 2019.
This was permitted by the WTO as a penalty for subsidies given to European aircraft maker Airbus.
European tariffs were then issued against US subsidies given to Airbus rival, Boeing.
Although the US administration has stated it wants to end the trade dispute, both sides have so far failed to reach an agreement.
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