EU introduces US customs duties
European Union member states voted to introduce customs duties on some US goods. The new customs duties take effect on April 15 – the European Commission said.
– The European Union estimates that US customs are unjustified and harmful and cause economic damage to both sides, as well as the global economy. The EU has clearly stated that it prefers negotiations with the United States, which would result in balanced and mutually useful solutions – the EC said in a statement.
In response to US President Donald Trump’s customs on European steel and aluminum, the EU will introduce countermeasures in three phases.
The first wave comes into force next week, the second in mid -May, and the third at the end of the year, in December.
26 EU member states, ie all but Hungary, voted for the introduction of US customs duties.
– Further escalation is not the solution. Such measures will further harm the European economy and citizens by rising prices. The only way out are negotiations, not countermeasures – reported by Hungarian Foreign Minister and Trade Peter Siarto.
The EU is currently facing 25 percent US customs duties for steel, aluminum and cars, as well as new 20 percent wider customs duties for almost all other items.
Europe exports more goods to the United States than it imports. The total trade between the two sides is about 1.3 billion euros, and the real imbalance is approximately 50 billion euros.
