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EU to retaliate: Last thing we need now is the EU-US trade war

By Jacob Wolinsky. Originally published at ValueWalk.

impose tariffs

BRUSSELS – Yesterday, the European Commission announced the European Union will impose tariffs on US exports of lighters, furniture coatings and playing cards. “The EU is adopting measures in reaction to the U.S. extension of its import duties on steel and aluminium to certain derivative products,” a Commission spokesperson told POLITICO.


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Counterproductive To Impose Tariffs On US Products?

In response, Luca Bertoletti, Senior European Affairs Manager at the Consumer Choice Center, said that “this move from the Commission is very dangerous. In a moment of crisis such as this, it appears counterproductive to impose tariffs on US products especially since the US is one of the leading partners to fight the battle against COVID-19.

“There is always what’s seen and what’s unseen. By aiming to hit the US where it hurts in a trade war, the EU will end up hurting its own consumers, not only US exporters. A peaceful transatlantic trade dependency, not a destructive trade war should be the way forward,” said Maria Chaplia, CCC European Affairs Associate.

“Trade wars are a lose-lose game. Trade agreements, on the contrary, are not only rewarding because they benefit consumers on both ends, but also because they build bridges of partnership and cooperation between nations. Sometimes victory is about choosing to restrain from retaliation. Especially, when it comes to trade,” concluded Chaplia.

Should the US impose tariffs on the EU, China, Japan or others? Let us know in the comments section.

About Consumer Choice Center

The CCC represents consumers in over 100 countries across the globe. We closely monitor regulatory trends in Ottawa, Washington, Brussels, Geneva and other hotspots of regulation and inform and activate consumers to fight for #ConsumerChoice. Learn more at consumerchoicecenter.org.

The post EU to retaliate: Last thing we need now is the EU-US trade war appeared first on ValueWalk.

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