June 22: EU to Impose Duties on US Imports for EUR 2.8 Billion

On Friday, 22 June, import duties for EUR 2.8 billion ($32 billion) are taking effect. This is the European Union response to US steel import duties on steel and aluminium, which have been in force since June 1, Reuters reported.

"We did not want to be in this position, but the unilateral and unjustified decision of the US President to impose customs tariffs on steel and aluminium imported from the EU means we have no choice," European Trade Commissioner Cecilia Malmström said on Wednesday in a special statement on behalf of the EC.

The so-called "rebalancing measures" are a response to the current tariffs of 25% for steel imports and 10% for imports of aluminium from the EU. The new higher European duties will affect US imports of a number of agricultural commodities and other products such as whiskey, motorcycles, and others.

"The international trade rules we have developed over the years with our American counterparts cannot be violated without our response, our response is carefully measured, proportionate and fully in line with World Trade Organization (WTO) rules," said Cecilia Malmström.

"The EU can also impose customs duties on other US goods at the rate of EUR 3.6 billion at a later stage if there is a positive solution to trade disputes in the WTO", added the European Commissioner.

Petya Petrova

Petya Petrova is a journalist, believer, and traveler.

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