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News 08.03.2018

Trade war fears deepen in the EU

In the trade dispute with the US, European Commissioner Cecilia Malmstrom has warned a full-on transatlantic trade war is „not in anybody’s interests“.

Trade war fears deepen in the EU
Press conference by Cecilia Malmström, Member of the EC

In the trade dispute with the US, European Commissioner Cecilia Malmstrom has warned a full-on transatlantic trade war is „not in anybody’s interests“. She said: “We have made it clear that a move that hurts the EU and puts thousands of European jobs in jeopardy will be met with a firm and proportionate response.” However, she confirmed that a provisional list of targets has been drawn up and is being shared with EU member states to respond to Mr. Trump’s trade war with tariffs on US whiskey, orange juice and peanut butter.

Concerns about a possible global trade war have been intensifying due to Trump’s plan to introduce tariffs on steel and aluminum imports and due to the resignation of Gary Cohn, who had been a pro-trade White House adviser.

European Commission press conference by Commissioner Cecilia MALMSTRÖM

Provisional list of targets has been drawn up e.g. with tariffs on US whiskey, orange juice and cranberries.

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