Bourbon and Levi's prices to rise as European Union enforces tariffs on US

24 Junio, 2018, 04:07 | Author: Arnold Perez
  • The effects of US President Donald Trump's tariffs on various countries aren't big enough yet to classify as a true

Auto tariffs are shaping up as the next battle in what officials here fear is developing into a full-blown trade war between the US and its closest allies.

The tweet came as Europe imposed tariffs on goods worth 2.8 billion euros ($3.2 billion) - including Harley Davidson motorcycles and Levi's jeans - which are themselves a targeted response to Trump's earlier decision to impose steel and aluminum tariffs on European exports to the United States. India and Turkey have already targeted US products, ranging from rice to autos to sunscreen.

"We have a trade war - and it's an escalating trade war", SEB chief economist Robert Bergqvist said in an interview. But the E.U. has signaled its intention to push through another round of duties in the future, if the president persists in pretending that European metal threatens the safety of the American people. A group representing major USA and foreign vehicle makers has said it was "confident that vehicle imports do not pose a national security risk".

Relations plumbed new depths at the recent G7 summit when Trump abruptly rejected the joint statement and bitterly insulted his Canadian host, Prime Minister Justin Trudeau.

Cecilia Malmstrom, the EU's trade commissioner, acknowledged that the European Union had targeted some iconic American imports for tariffs, like Harley-Davidson motorcycles and bourbon, to "make noise" and put pressure on USA leaders.

Nearly 1 million are tied directly to auto and parts manufacturing, according to the Bureau of Labor Statistics.

India joined the European Union and other US trading partners in retaliating against the Trump administration's tariff hikes on steel and aluminum Thursday by raising import duties on a variety of goods, including almonds, apples and some metal products. Trump said in the tweet.

Most economists say the effect of higher worldwide import tariffs will drive up costs for consumers, offsetting much of the benefit of protecting domestic industries for the country imposing them. "How they'll take it, we'll have to wait and see".

More news: Thousands demand new Brexit vote
More news: Ante supuesta rebelión de jugadores, ratifican a Sampaoli como DT de Argentina
More news: Alemania vs Suecia Mundial 2018 EN VIVO

"I wish we would stop invoking national security because that's not what this is about".

"By linking the threatened imposition of USA tariffs to European Union tariffs imposed on US autos, the President has both short-circuited the 232 process and conclusively undercut the stated national security rationale of that investigation", said Daniel Price, a former senior economic adviser to President George W. Bush.

Trump already hit Europe with steel and aluminum tariffs, angering European Union leaders and triggering retaliation. According to the Peterson Institute for International Economics, a 25% tariff on imported autos to the U.S. would result in the loss of 195,000 USA auto workers' jobs.

Trump has since upped the ante, threatening another $200 billion in Chinese products, with Beijing saying it will respond further if necessary.

The department plans to make additional decisions on requests for steel and aluminum tariff exclusions.

The United States' trade deficit with China past year was $376 billion, by comparison.

Sen. Orrin Hatch, who opposes the vehicle tariffs, did the math for Commerce Secretary Wilbur Ross at a hearing this month.

Donald Trump has stepped up his war on global trade, which could endanger $400 billion in commerce.



Celia Lora se quita la ropa en apoyo a Carlos Vela
El siguiente partido se realizará el sábado 23 de junio contra la República de Corea a las 8:00 horas. Cabe mencionar que la modelo desactivo los comentarios de su publicación en la red social.

Mexico Sinks South Korea, Stay Perfect At 2018 World Cup
Miguel Layun pressed for a second goal before the break but his shot from a low cross-field drive was tipped away by Jo Hyeon-woo. Vela's penalty means more spot-kicks have now been awarded in Russian Federation than in the entire 2014 tournament in Brazil.

Cabello jura como presidente de la ANC
Además, durante la juramentación de Cabello , los constituyentes destacaron la necesidad de "rescatar" la figura de Chávez y considerado el líder de la revolución bolivariana.

TV Azteca denuncia bloqueo de señal en el México vs. Corea
Albeto Ciurana , director de Contenido y Distribución de TV Azteca , pidió a los televidentes que denuncien el bloqueo de la señal de Azteca Siete ante la Procuraduría Federal del Consumidor ( Profeco ).

Memorial set at Florida arena for slain rapper XXXTentacion
Pictures from 2014 showed the inside of a gun store. "He left us a final gift", she wrote in the caption. Williams and another unidentified person robbed the 20-year-old artist and shot him once in the neck.

Instagram competes with Youtube, launches IGTV
"Since our launch in 2010, we've watched with amazement as the community has flourished and grown", Systrom said in a blog post . Systrom said IGTV is built to be used on a smartphone, and boosts the time for videos from the previous limit of one minute.

Carmelo Anthony will not opt out of deal with Oklahoma City Thunder
Anthony, 34, has one year remaining on the five-year maximum contract that he signed with the Knicks in 2014. While Anthony's massive contract will be almost impossible to trade, the two sides could agree to a buyout.

Brazil's Neymar passed fully fit ahead of Serbia match
However, he then turned to VAR to make sure he had not been fooled by the Paris Saint-Germain man. "Opponents commit fouls to try to stop him", he said.

Supreme Court lets states charge internet retailers more in taxes
The decision today opens the door for states to pass new legislation and begin collecting more sales taxes from online sellers. The winners are local brick and mortar businesses, which will be able to compete pricewise with online retail giants.

Padre de Michael Jackson morirá en cualquier momento
El anciano lleva ya largos meses enfermo y su condición empeoró en la última semana. "Está muy frágil, no le queda mucho tiempo". Y agregó: "Hemos estado sufriendo, no nos dijeron dónde estaba y no pudimos obtener la imagen completa".