Last week Friday, the European Union implemented import levies of 25 per cent on various American goods. The measures are a response to American levies on European steel and aluminium. The European Commission announced this last week.
The import tariffs affect a range of goods valued at 2.8 billion euro, including American steel and aluminium, maize, peanuts, bourbon, jeans and motorbikes. EU trade commissioner Malmström announced in a statement that no other choice was left to the EU. According to her, the measures are proportional and in line with regulations of the World Trade Organisation (WTO).
Bart Jan Koopman, manager of evofenedex, looks upon the developments regarding the trade conflicts started by American President Trump with sorrow. “The American levies don’t just affect our members in the steel and aluminium industry, but suppliers of similar groups and maintenance companies will also receive fewer orders. The EU countermeasures make it more expensive to use American products in Europe. Fewer sales mean less work and therefore less income on both sides of the ocean. Considering the additional effects of the conflict between China and the US and between the US and countries such as Mexico and Canada, this game truly only has losers.”
The trade conflict could escalate even more if Trump also applies high import levies on European cars and car parts. Earlier this year, he said this was his plan. As an important supplier to the car industry, the Netherlands would then be hit hard again.
Source: Evofenedex