EU announces 25% tariffs on US products. Here’s the prices that go up for the week

There are about 1700 products of all varieties, and affect 21 billion euros in European purchases to the US. Retaliation will have 3 phases, and the first starts next Tuesday.

It is the first effective response of the European Union to tariffs on steel and aluminum (and 20% for almost all other goods) imposed by Donald Trump on Europe. 25% rates on US imported products start to come into force next Tuesday, the 15thannounced this Wednesday the European Commission. Only Hungary voted against.

It is on this date when, according to the advance, if they will begin to apply these rates of a quarter of the value of the product over some products already taxed before, in 2018: some Fruits and Vegetables fresh and canned, dry vegetables, tobacco, toilet paper, laminated steel and motorcycles like the Harley-Davidson. These products have an import volume that is estimated to be worth 3.9 billion euros.

In the second phase, which starts May 16new elements enter the list: eggs, capoeira birds and beefvegetable oils such as sunflower and palm oil, margarine, crackers, sugar and citrus. Among non-food products are still counting Jewelry, plastics, steel and aluminum pieces, wood and textiles. Imports are estimated in the amount of 13.5 billion euros.

The third phase begins on December 1 and attacks evil by the root (literally). Soy and almonds with and without shell will be taxed, with an import volume estimated at about 3.5 billion euros.

It also points out that France, Ireland and Italy have managed to get the whiskey Bourbon to be removed from the list of affected products.

In total, there are almost 1700 products and about 21 billion euros in imports that will be taxed. It may seem like a large amount, but it recalls that Europe’s metal exports to the US represent about 26 billion euros, that is, the EU retaliatory measures do not arrive to cover the assets taxed by the US, which will affect 70% of EU exports to the US.

The EU admits that the situation causes “economic damage to both partiesas well as the global economy, ”but also recalls that it” has expressed its clear preference for finding solutions negotiated with the US, which is balanced and mutually beneficial. “

The EU statement still ends a promise: Measurements are suspended if Trump gives green light, What so far, even in this regard, has not happened. ”These counter-meddles can be suspended at any time if the US accepts a fair and balanced negotiated result,” reads the text.