The EU has agreed agreed possible countermeasures in the trade conflict with the US. However, these may only enter into force if the conversations with the US government have no result. It is around 72 billion euros.
EU representatives have agreed a list. For example, there must be tariffs on aircraft, machines, cars, chemicals and medical devices from the United States. Electric and precision devices and agricultural products such as fruit, vegetables, wine and spirits would also be absorbed.
As reported, an escalation must be averted by negotiations by the end of the month. Both the United States and the EU recently reported the conversations. Nevertheless, US President Donald Trump had threatened 30 percent in the weekend with high special rates. The EU committee, which coordinates trade policy, had announced that representatives traveled to Washington. There are no countermeasures.
Second retaliation round
The 72 billion package would be the second round of retribution at American rates. It would answer cars, car parts and flat -rate rates that are currently ten percent. The first package included American goods worth 21 billion euros and was approved in April. In order not to jeopardize the negotiations, it was suspended again until August 6.
If 30 percent inches are actually introduced to export from the EU, this would cost 15,000 jobs in Austria and pushes the gross domestic product (GDP) by 0.4 percent. This stems from a calculation by the Bank Austria, which was published on Tuesday. Orders from abroad have already taken, says it. This is also due to other geopolitical challenges and the economic situation in Germany.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
