Eu Tariffs on US Goods Take Effect as Trade War Escalates

(From RTE)

The European Union has slapped retaliatory tariffs on iconic US products from bourbon to blue jeans and motorbikes in its opening salvo in a trade war with President Donald Trump.

The tariffs, which took effect at midnight, will further fuel jitters on world stock markets that are already alarmed by trade tension between the US and China.

Customs agents across the Europe’s colossal market of 500m people will now impose the duty, hiking prices on US-made products in supermarkets and across factory floors.

Brussels imposed the raft of duties on US products worth €2.8bn ($3.3bn) in a tit-for-tat response to Mr Trump’s decision to slap stiff tariffs on European steel and aluminium exports.

EU Trade Commissioner Cecilia Malmstrom said this week that the 28-nation bloc was “left with no other choice” but to impose tariffs of its own after the “unilateral and unjustified decision of the US”.

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