BRUSSELS: If no solution is found, US President Donald Trump’s tax war, which might include Boeing, will be targeted with punitive duties, according to the European Union’s ( EU) publication on Thursday. The German Commission, the executive branch of the EU, announced at the same time that it would start legal action against the World Trade Organization for the “reciprocal taxes” Trump imposed on nations all over the world a fortnight before. According to commission President Ursula von der Leyen,” The EU continues to be fully committed to negotiating agreements with the US.” ” At the same time, we keep preparing for all opportunities.” The committee manages business agreements and issues on behalf of the 27 EU member states.
Procedure Sindoor
Trump’s tariff onslaught against international trading partners included a 20 % tax on items from the EU in early April. He put them on hold for 90 times a week later to allow other nations to come up with solutions to US business issues. Imports from the EU also fall under a blanket 10 % tax. Countermeasures were developed by the commission to target 20.9 billion euros ( USD 23.6 billion ) of US goods, roughly the same as what Trump would be attempting to do in Europe. However, it also put them on hold for 90 days to give the conversations a possibility. The commission has made a list of American imports for potential targeting worth 95 billion euros ( USD 107 billion ) public after the top trade official of the bloc has traveled between Brussels and Washington trying to figure out a solution. Instead of using brand names, the checklist is broken down into broad categories of goods and industries. It contains 2 billion euros ( USD 2.3 billion ) in vehicles, 10.3 billion euros ($ 11.6 billion ) in vehicle parts, and 10.5 billion euros ( USD 11.9 billion ) in aircraft. US imports of wine, beer, and spirits could suffer from imports of around 1.3 billion euros ($ 1.5 billion ). The US, which has a reputation for being its main market, has long been a major concern for German wine producers, who have been seriously concerned about Trump’s tariffs. Before the commission decides on the next ways, serious businesses and events have until June 10 to provide feedback. A commission established briefed writers on the list and the justification for the EU’s approach, saying,” Boeing is very pleasant to make comments on this record.” The committee also stated that it would be bringing legal action against the governing body of global trade and had soon request consultations with the United States to try to resolve the problem, which must be resolved within two months. It stated that this behavior may concentrate on Trump’s “universal” mutual tariffs and vehicle parts duties. The EU holds the unwavering position that these tariffs clearly violate fundamental WTO regulations, according to a statement. Since Trump’s election, the commission believes that 379 billion euros ( USD 428 billion ) of EU exports to the US have been affected by new tariffs, including those that have been in effect until mid-July. They are now “raising costs for company, stifling growth, boosting inflation, and causing greater economic uncertainty,” according to the statement.
