The European Union’s retaliatory tariffs against the US will begin on Friday, June 22.
A 25% tariff will be imposed on iconic US products such as Harley Davidson motorcycles, Levi Strauss jeans, bourbon whiskey, as well as 10% on playing cars. The toll for the US economy is expected to be €2,8bn.
These tariffs are a response to a US 25% tariff on steel and 10% tariff on aluminium. The EU considers the US claim that tariffs serve the national interest as covert protectionism.
Additional tariffs ranging 10-to-50% will be imposed on t-shirts, cigars, cigarettes, orange juice, cosmetics, boats, steel, rice and corn by March 23, 2021, if US policy does not change.
“We did not want to be in this position; however, the unilateral and unjustified decision of the US to impose steel and aluminium tariffs on the EU means that we are left with no other choice,” European Trade Commissioner Cecilia Malmstrom said on Wednesday.