Trade War: US Allies Plan To Retaliate

Trade War: US Allies Plan To Retaliate

James Kirk
Author James Kirk
StoriaBusiness
Collection StoriaBusiness

America's biggest allies and trade partners are promising to fight back against US tariffs that threaten to spark a global trade war.

The European Union, Canada and Mexico said Thursday that they will respond to new US tariffs on steel and aluminum with punitive measures targeting American products worth billions of dollars, report the BBC and CNN. These counter-tariffs could play a part in a growing trade battle.

Jean-Claude Juncker, president of the European Commission, said the bloc would move ahead with tariffs that are expected to affect roughly $7.5 billion worth of US exports. It will also lodge a case with the World Trade Organization (WTO).

68The United States now leaves us with no choice but to proceed with a WTO dispute settlement case and with the imposition of additional duties on a number of imports from the United States

76affront77

He said Canada buys half of US steel exports.

91up to an amount comparable to the level of damage92

Image credit: Getty Images

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