Today 07.06.2018 - pokerstars news

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EU sets July timeframe for US tariff reprisals

The EU says it expects to retaliate next month after the US imposed tariffs on the bloc's steel and aluminium products, sparking fears of a global trade war.

There was shock when the world's largest economy confirmed it was imposing the duties on the EU, Canada and Mexico from 1 June, as part of President Donald Trump's protectionist agenda aimed at saving US jobs.

The EU issued an update on its response on Wednesday, 24 hours after Mexico confirmed it had launched tit-for-tat tariffs on US steel and was also targeting US goods such as pork and bourbon products.

Officials in Brussels, who are leading the member states' response, said nations had given broad support for a plan to set duties on €2.8bn (?2.5bn) of US exports.

These are expected to target US-produced metals and other products such as jeans and whiskey.

However, there are believed to be divisions over the scale of the fightback, with Germany said to be resisting demands in some quarters for a more punitive response.

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