EU Ready to Target Xerox, Others, if U.S. Imposes Auto Tariffs
Bloomberg reports today that, according to a senior European Union (EU) official, the EU will levy tariffs on Xerox machines – as well as Samsonite luggage and Caterpillar trucks imported into the EU – if President Donald Trump follows through on a threat to impose tariffs on autos and auto parts made in the EU and imported into the United States. Trump first threatened to impose the tariffs in January f a trade deal isn’t reached with the EU, according to Bloomberg.
The EU commission said last month that it would impose tariffs on U.S. products worth some $22.7 billion if the Trump administration decided to impose duties on European autos and auto parts. The U.S. administration claims that the tariffs are for protecting the United States’ national security, as it did last year when it placed tariffs on foreign steel and aluminum.
EU Trade Commissioner Cecilia Malmstrom said today after a meeting of the EU’s commerce ministers: “Should there be tariffs on cars and car parts, which we don’t want, we have started internally to prepare a list of re-balancing measure. There is full support to do this.”
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