European flags fly to the EU council building in Luxembourg on April 7.
Jean-Christophe Verhaegen / AFP via Getty Images
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Jean-Christophe Verhaegen / AFP via Getty Images
All the member countries of the European Union, with the exception of Hungary, voted Wednesday in favor of proposals which would impose prices on specific American products sold in Europe, from next week.
The vote came a few hours before President Trump declared on social networks that he would arouse prices on most countries for 90 days, but that the increase in tariffs on China at 125%.
The proposals were published for the first time on Monday by the European Commission on Monday, the EU executive power which coordinates the trade policy of the block. They were adopted at a meeting in Brussels on Wednesday, a few hours after radical prices of 20% on almost all European goods entered into force.
Wednesday’s European vote came in response to a preceding set of American measures announced by the Trump administration, which slapped 25% of European steel and aluminum prices. The block said that he was still working on his response to American tariffs separated by 20% on imports of European cars.
It is not yet known whether the countries of the European Union are among the people affected by the announcement of the president’s 90 -day tariff suspension – and if the EU member countries could raise their own set of sanctions as a result of the announcement.
EU reprisal measures
In its declaration published after the vote to approve new measures, the European Commission described the initial tour of American tariffs as “unjustified and damaging, causing economic damage to both sides, as well as the global economy”.
European officials said the latter “countermeasures”, as they called them, could be suspended at any time, but once the United States has accepted what it called “fair and balanced negotiated result”.
The precise details of the new European prices will probably be published at the beginning of next week, said a spokesperson for the Commission, and should target American motorcycles, poultry, fruit and wood, According to a project to copy the list viewed by Reuters.
If they are not canceled, they would take effect gradually, from next Tuesday, with other towers implemented in May, then the rest taking effect in December.
Europe is intensifying to negotiate
The European Union has shown that it will retain a certain flexibility for its next movements, the Commission claiming that in its declaration after the vote on Wednesday that the “clear preference” of the EU would be to engage in negotiations with the Trump administration, in order to cement a traffic agreement which is “balanced and mutually beneficial”.
The French Minister of Commerce Laurent Saint-Martin reiterated this position during a visit to Indonesia on Wednesday.
“We believe that a tariff war is harmful to everyone,” said Saint-Martin. “We must continue the work of dialogue and negotiation with the American administration in order to reach the most positive program as possible.”
The European stock markets later closed Wednesday, with indices in London, Frankfurt and Paris having all dropped around 3% during the day, Caping Falls of more than 10% in last week since the last series of world rates was announced for the first time by President Trump.
