Brussels: The European Union imposes tariffs on the United States products in the revenge of imposed tariffs on them.
The European Union (EU) put tariffs due to the ongoing trade war with the United States. The products on which EU tariff will be imposed are motorcycles, jeans, and bourbon. However within a few hours, Donald Trump replied with a threat to implement 20% tariff on imported cars from EU. The European Union tariffs became effective on Thursday (2200 GMT). However, world’s stock markets are already facing uncertainty due to the ongoing trade war between China and the United States.
Customs agents across European market of 500 million consumers will now impose the duty. The hiking prices on US items in supermarkets and across factory floors. The European Union imposed duties on US products worth $3.3bn (2.8 billion euros) in a tit-for-tat reply to the United States’s decision to impose high tariffs on European aluminum and steel exports.