EU comes with its own import duties against US: engines and drinks more expensive

The European Union comes with its own import duties on American products. For example, all kinds of American products become more expensive for Europeans, such as Bourbon, Harley Davidson engines, boats and jeans.

It is a reaction to the American levies to steel and aluminum that have started this morning. From now on, American companies that bring these products from abroad must pay 25 percent extra taxes.

The European Union is now obtaining a package of countermeasures from the stable that were introduced earlier in 2018, when Trump introduced taxes on steel and aluminum in his first term. That package of taxes was paused, but will now be in force again next month.

Because the taxes from the US are now higher, the EU comes with an extra package. In the coming weeks it will be examined which more levies can be entered. The European Commission ultimately wants to introduce import duties on American products with a value of 18 billion euros.

“We greatly regret this measure,” says European Commission Chairman Von der Leyen. “Rates are taxes. They are bad for business, but even worse for the consumer.” Yet, according to her, a counter -reaction to the American taxes could not have been missed.

There was a long confusion whether the American taxes would actually go into today. Trump previously threatened with levies on all products from Canada, Mexico and China. For the time being, only the import tariffs for China have actually been introduced.

Yesterday afternoon, Trump threatened to introduce an extra tax on steel from Canada. On Canadian Staal, 50 percent extra load would be levied in the US. The threat was reversed that evening, after Canada had announced that it would not enter the 25 percent surcharge on electricity for the US.

Companies in the United States that buy a lot from abroad are very worried. For example, American car makers have already ringed the bell. They import a lot of steel from abroad.

Tata Steel also exports a lot of steel from the Netherlands for the American car industry. Of all the steel that Tata makes in the Netherlands, 12 percent go to the United States. During the previous term of office of Trump, Tata Steel also received an exception because the company supplies the US high -quality steel. It is unclear whether Tata Steel will get an exception again this time.