European Union Weighs Further Tariff Hikes On U.S. Goods

Reports emerged over the weekend that the European Union could issue new tariffs on $4 billion worth of U.S. goods as soon as tomorrow, although Germany is said to be advocating for a more conciliatory approach in light of the U.S. election results. Reuters reported that the European Union Commission is set to lodge new tariffs on certain spirits, as well as U.S. planes and parts, construction equipment, fruits, nuts, and other items, with an announcement likely to come Tuesday or Wednesday.

This morning, however, Bloomberg reported that Germany—one of the most powerful members of the bloc—will advocate for ratcheting down tensions and resetting the trade relationship amid the expected transfer of power in the U.S., rather than further hiking tariffs. E.U. trade ministers are set to meet today to discuss the issue.—Daniel Marsteller

Tagged : Tariffs

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