6/14/2018, 5:46 PM (Source: TeleTrader)
more TeleTrader news

EU greenlights retaliatory tariffs against US goods - report

The European Union made a unanimous decision to approve retaliatory trade restrictions against American goods, including a wide range of consumer products, as a response to Washington's decision to impose tariffs on steel and aluminum from the bloc, AFP reported citing sources close to the matter. The €2.8 billion worth of duties are meant to go into effect "in coming days," earlier than previously announced, the anonymous source said.

Earlier in the month, vice-president of the European Commission Maros Sefcovic announced the "proportionate" measures for July. The official added that World Trade Organization was notified of the decision.

US metal tariffs officially went into effect on June 1, after Brussels failed to secure a permanent exemption through negotiations. European leaders have repeatedly criticized Washington's policy, calling it "protectionist" and "illegal."

Breaking the News / NI