27 countries stood up against Donald Trump, imposed 25% tariff in response; gave rise to a new ‘war’
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The way America’s Trump has started the tariff war has created panic in the whole world. But there are some countries in the world who have made a plan to compete with Trump in Trump’s own style. China has already shown the mirror to America in this matter, and now the entire group of 27 countries i.e. the European Commission has also geared up to compete with Trump. According to news agency Reuters, the EU has proposed to impose a 25 percent retaliatory tariff on some American goods on Monday. The agency has quoted documents to say that tariff on some goods will come into effect from May 16.
On which items will tariff be imposed?
While, tariff will be imposed on some others from this year. These include diamonds, eggs, dental floss, poultry and many other things. There are reports that some items have been removed from this list after objections were raised by member countries. Tariff on almonds and soybeans will start from December. EU trade chief Maros Sefcovic said on Monday that these retaliatory tariffs will have less impact than the previously announced 26 billion euros ($28.45 billion). Bourbon, wine and dairy products have been removed from the initial list prepared in March.
Trump’s threat
Earlier the Commission had planned a 50% tariff on Bourbon, after which Trump threatened a 200% tariff on EU wine. France and Italy were very worried by this threat, because their wine industry is very big. Apart from this, the EU tightened the existing security rules on steel from April 1, which reduced imports by 15%. The Commission is now also considering import quotas for aluminum. EU member countries will vote on this proposal on April 9.
Trade war started?
This move is part of the EU’s strategy against Trump’s steel and aluminum tariffs. People are considering this as a new episode of the trade war. Some on social media are saying, “America started it, now Europe is responding,” while others are joking, “Not even dental floss was spared!” It remains to be seen what happens next, but for now the tariff war has intensified on both sides.
