Brussels: The EU told the World Trade Organisation on Friday it was ready to unfurl retaliatory measures against US tariffs on steel and aluminium, which would include European tariffs on motorcycles and bourbon.
“Today, the EU has notified to the WTO a list of US products on which the EU may in the future apply extra import duties,” said the European Commission, the EU’s executive arm which handles trade affairs for the bloc.
“This would be to compensate in an equivalent manner for the impact of the US tariff measures on steel and aluminium ... should they enter into force,” it added.
The European Union drew up the raft of counter measures that will hit a huge range of flagship US exports — that include peanut butter and cranberries — with duties if Trump acts on his threat to impose tariffs of 25 per cent on steel and 10 per cent on aluminium.
Europe exports around five billion euros (Dh21.6 billion, $4 billion) worth of steel and a billion euros worth of aluminium to the United States each year, and the commission estimates Trump’s tariffs could cost some €2.8 billion.
The EU is meanwhile attempting to persuade Trump to abandon his threat of tariffs with promises of a limited trade deal.
EU ministers next week will discuss a potential trade accord as well as a bid to open up the European market to US natural gas — if a permanent exemption is won.
