EU prepares list of counter-measures against possible US automotive tariffs
The European Union has already started preparing a ground for its retaliatory move against the United State in case the 20 per cent tariff on EU-assembled cars is levied. On Tuesday, July 17, European Union Trade Commissioner Cecilia Malmstrom announced that a list of counter-measures to potential US-tariffs is almost ready.
While delivering a speech at a conference in Brussels, she said the potential US tariffs on EU car exports would be extremely unfortunate. Hence, along with member states, the country is preparing a list of rebalancing measures as a counter move, she added.
Nonetheless, Malmstrom expressed hope if her visit to Washington, accompanied by EU Commission President Jean Claude Juncker could help ease tensions. They will visit next week to discuss transatlantic trade with Donald Trump.
Earlier, on June 28, the EU had warned the United States about this retaliation. The EU leaders had also supported this retaliatory move against the automotive tariff, which Trump justifies on national security grounds.
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