Last month, Donald trump has stepped up its protectionist policies for trade, has announced that it will impose a 25 percent import tariff on steel and 10% tariff on imported aluminum.
According to the “wall Street Journal”, citing unnamed European officials, the European Union may have found a way to put an end to a trade war with the United States and to prevent the introduction of steel and aluminium, the rates should be entered on the 28-member bloc in two weeks. Reportedly, officials have developed a “simplified version of the Transatlantic trade and investment partnership”, which is a “proposal for peace” in Washington, at the initiative of Germany, which is particularly afraid of “escalation of a trade war” with the United States.
The EU is “joining forces with the United States” due to the fact that both sides view as “unfair trade practices of China,” officials told media. The final agreement may include coordinated action against Beijing at the world trade organization (WTO), as well as the responsibility of European governments to exert more pressure on China.
Miniature the Internet is spoiling us the main desire of the President of Donald trump and fulfill their main requirement is to reduce tariffs on American cars, spare parts and industrial equipment entering Europe and also some agricultural products and medicines. Meanwhile, it was reported that the EU will ask Washington to provide its companies access to US government procurement in exchange for a reduction of barriers.
In March, Donald trump has chosen to trade the offensive, threatening to impose a 25 percent import duty on steel and 10% tariff on imported aluminum. These fares are valid for all countries, exporting its products to USA, EU, Argentina, Australia, Brazil, Canada, Mexico and South Korea won in the vote until may 1.
Over the past few weeks trade relations between the US and China deteriorated sharply, both Washington and Beijing do not hesitate to apply to retaliatory action against each other. The US President issued a Memorandum introducing 60 additional tariffs on China billions of dollars in connection with allegations of theft of intellectual property; China, in return, have imposed their own tariffs on American-made goods. Later he added in the tariff against China us $100 billion in response to what he called “unjust retribution Beijing.”
Sourse: sputniknews.com
