After the previous news releases from Trump's tariff on the EU's US$11 billion products on Twitter, the EU will also impose the punitive tariffs on US products valued at US$12 billion. The trade war between Europe and the US has been triggered.
The total amount actually included in the list was US$20 billion, and the remaining US$8 billion was based on the arbitration results by the WTO.
In 2018, the US' trade deficit with the EU totaled around US$169.3 billion. Trump was very dissatisfied with this, so it was believed that the trade war between the US and Europe would happen sooner or later.
The EU will announce the tariff list of US$12 billion on April 17th, demonstrating the EU's determination to resolutely retaliate.
Source from Yieh Corp |
