According to the international news
The European Commission, the executive arm of the
European Union, has censured a decision by the United States
to impose high tariffs on the import of olive from Spain,
saying the “unacceptable” move would eventually hurt
American consumers.
“The decision by the United States Department of
Commerce to impose unreasonably high and
prohibitive duties, anti-subsidy and anti-dumping
duties, on Spanish olives is simply unacceptable,” a
Commission spokesman said on Wednesday, adding,
“This is a protectionist measure targeting a high-
quality and successful EU product popular with US
consumers.”
Washington has yet to officially confirm the new tariffs on
Spanish olive but many expect it to be rubber-stamped by the
US International Trade Commission in July.
The tariffs come amid some unprecedented tensions between
the European Union and the United States over President
Donald Trump’s controversial metal tariffs. The EU failed to
gain a permanent exemption from the tariffs, which are
expected to hurt many jobs in the continent.
The EU has announced that it would impose its own tariffs on
American products and says a series of such tariffs on US
imports, including bourbon and jeans, would be implemented
as of July to target 2.8 billion euros' worth of American
imports.
Many fear Trump’s consistent threats for imposing more tariffs
on trade with the European Union would trigger a trade war
between the two sides of the Atlantic.
European powers had hoped that a recent summit of the G7
group of industrialized countries in Canada could provide an
opportunity to mend ties with the US. However, Trump dashed
those hopes by pulling out of a joint communiqué of the
summit and mocked a call in the statement for “free, fair and
mutually beneficial trade”.
“Fair trade is now to be called fool trade if it is not reciprocal,”
read a Monday posting on Twitter from the US president, who
has repeatedly criticized key allies for maintaining a large
trade deficit with the United States.
No comments:
Post a Comment