Trump Tariff War: EU to Impose Retaliatory Tariffs on American Goods to Remove Trump’s Tariff Monopoly

Trump Tariff War: Last week, US President Donald Trump announced tariffs on over 180 countries. Under the Trump administration’s new policy, all imports from non-listed nations would face a 10% levy, with greater tariffs imposed on countries that the administration believes impose stringent controls or levies on US exports. In retaliation, China has placed a 34% tariff on all US imports. After China announced retaliatory tariffs, the US President threatened to levy a 50% duty on them. At the same time, there are reports that the European Union (EU) is preparing to put retaliatory tariffs on various American exports. 

EU Proposes Retaliatory Tariff on America

According to reports, the EU on Monday proposed placing a 25% retaliation tariff on certain US exports. These include diamonds, eggs, dental floss, poultry, and a variety of other items.  According to sources, some items were removed from this list following concerns from member countries. Under Trump’s tariff policy, the 27-nation European Union will be required to pay a 25% import fee on steel, aluminum, and automobiles, as well as a 20% reciprocal levy on nearly all other items, starting from Wednesday.

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