Daily Trends Now
Daily Trends Now


EU 'possibly as bad as China' on trade

The EU has targeted US$3.2 billion in American goods exported to the 28-member bloc, including bourbon and Harley Davidson motorcycles. The submission said European auto companies are "well established" in the United States.

Whle tariffs could jeopardize $47 million in exports to China, the U.S. Chamber said, Pascrell said China's unfair practices have cost millions of American jobs.

Another official described the dispute between Trump and Western allies at the Group of Seven summit last month as a gift to Beijing because it showed European leaders losing a long-time ally, at least in trade policy.

European Commission spokesman Margaritis Schinas said Monday the USA investigation into the possibility of auto tariffs "lacks legitimacy, factual basis and violates global trade rules", just like last month's US tariffs on steel and aluminum imports.

In a push against President Trump's move to increase taxes on imported goods, the nonprofit released a study outlining economies it deems to be the most vulnerable in the event of a trade war.

General Motors also warned that proposed tariffs on foreign cars and parts could result in fewer cars being built on United States soil.

Canada, Japan, and Australia all keep their average tariff level in the same strata as the US.

The business lobbying group says farm states and states with large vehicle production plants will be particularly vulnerable.




The EU said the US auto industry is in good health, but any restrictive duties could undermine that trend.

"We'll spare no effort, be it at the technical or political level, to prevent this from happening", a spokesman for the Commission told reporters, adding that Commission President Jean-Claude Juncker's trip to Washington later this month would seek to stop any new U.S. tariffs.

China, India, Canada, Mexico, Norway, the European Union and Russian Federation have all filed complaints, arguing the usa duties are inconsistent with provisions of the WTO's General Agreement on Tariffs and Trade 1994 and the Agreement on Safeguards.

Canada and the USA are among the world's largest trading partners, with an estimated $673.9 billion in goods and services exchanged in 2017, with the US scoring a small surplus ($8.4 billion), according to USA government data. Now in all fairness they have their farmers.

Retaliation for his tariffs came swiftly.

Asked about that decision, Trump said in the interview that he is not backing down on China tariffs.

The US tariff on Chinese goods is threatening jobs at the Moog synthesiser company.

Mr Trump has previously been persuaded to back off trade threats with the argument that states that backed him in the 2016 presidential campaign will be hard-hit. The idea was that China's additional purchases would shrink its trade surplus with the United States. "I love those countries", said Trump, naming Germany and Scotland.

follow

editors' picks

June 30, 2018
Rep. Pramila Jayapal arrested at Washington DC protest
President Donald Trump signed an executive order to stop separations, but the reunification process has proved to be complicated. The rally was organized by the Women's March and the Center for Popular Democracy.

June 30, 2018
India v/s Ireland 2nd T20I
However, the pace department is an area of concern, as the second-choice fast bowlers have not enjoyed enough game time . Predicted playing XI: Kohli (c) Rohit, Dhawan, Rahul, Raina, Dhoni (wk), Pandya, Kuldeep, Chahal, Umesh, Kaul.

June 26, 2018
Portugal held to 1-1 draw by Iran in dramatic fashion
He later escaped a red card after the referee consulted VAR and showed him a yellow for elbowing an opposition player. If both Portugal and Spain win, the victor of the group comes down to goal differential.

June 24, 2018
Apple finally acknowledges its new MacBook keyboards suck
Apple forums are overflowing with reports of Geniuses who have told customers that Apple is "collecting data" on the issue. The so-called "butterfly" keys allowed for a much lower-profile keyboard with reduced travel distance when pressed.

June 24, 2018
U.S. tariffs on cars could affect $400b in trade
He has frequently criticized both allies and adversaries for imposing tariffs and trade barriers on American goods. While the results of that investigation are still weeks away, Trump raised the specter of tariffs on Twitter.

June 24, 2018
What you should know about the Opec meeting
OPEC's deal to release more supply centres on returning to 100 percent compliance with existing, agreed cuts. Since a year ago , OPEC and its allies have been participating in a deal to cut output by 1.8 million bpd.

June 23, 2018
Brazil face Costa Rica, Iceland and Serbia in action
Supporters were in for a surprise on Friday as Brazil and Costa Rica walked out for their World Cup Group E clash in St. The Serbs were wasteful against Costa Rica last weekend with Aleksander Mitrovic being the main guilty party.

June 20, 2018
Trump suggests separation of families at border is a negotiating tool
Adam Schiff, D-Calif., the administration is "using the grief, the tears, the pain of these kids as mortar to build our wall". Kellyanne Conway tells NBC's " Meet the Press " that "nobody likes" pulling apart families.

June 19, 2018
Pogba pumps France up as match ball deflates
Fortnite is a free-to-play Battle Royale shooter game played by millions on PS4, Xbox, PC and more recently mobile phones. Paul Pogba has refused to get drawn into conversations about his future while he remains at the World Cup with France .

June 18, 2018
Goal by Yusuf Poulsen leads Denmark to victory over Peru
Peru was excellent throughout pulling the Danish defense out of shape, but ultimately failing to make it count when it mattered. If Peru can stop him they have some fine attacking players of their own, all wearing an absolutely wonderful shirt.