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EU warns Trump: auto tariffs could lead to $300B retaliation

Above, new foreign cars parked at the Dundalk Marine Terminal on March 9, 2018 in Baltimore, Maryland. The European Commission said ‘up to $294 billion of US exports ... could be subject to countermeasures across sectors of the US economy’ if Donald Trump made good on his threat to impose duties on auto imports. (AFP)

Updated 02 July 2018

July 02, 2018 08:27

EU warns Trump: auto tariffs could lead to $300B retaliation

The European Commission tells US authorities up to $300 billion of US exports.could be subject to countermeasures across sectors of the US economy

Updated 02 July 2018

July 02, 2018 08:27

BRUSSELS: The European Union warned on Monday that up to $294 billion worth of US exports would face counter-measures if President Donald Trump went through on its threat to slap duties on auto imports.
In a letter to US authorities, the European Commission, which handles trade policy for the bloc’s 28 members, said “up to $294 billion of US exports... could be subject to countermeasures across sectors of the US economy.”
This was the equivalent to 19 percent of US total exports in 2017, it added.