Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BRUSSELS, May 8 (Xinhua) — The European Commission has launched a public consultation on a list of imported U.S. goods worth 95 billion euros (107.2 billion U.S. dollars), warning that they could be the target of retaliatory measures if ongoing talks with the United States fail to produce an agreement, it said in a statement on Thursday.
The consultations cover a wide range of U.S. industrial and agricultural products, including wine, frozen meats, aircraft, automobiles and auto parts, chemicals, medical products, electrical equipment and machinery.
In parallel, the European Union is considering the possibility of introducing new restrictions on the export of goods such as scrap steel and chemical products to the United States, worth 4.4 billion euros.
The U.S. currently imposes 25 percent tariffs on steel, aluminum and cars on the EU, as well as basic 10 percent tariffs on most other goods. The EU is bracing for a possible end to a 90-day “tariff truce” that expires on July 8. If no agreement is reached, the U.S. universal tariffs could rise to 20 percent.
The European Commission said consultations on retaliatory measures were underway on both the US universal tariffs and the US tariffs on cars and auto parts.
In the case of a WTO dispute, after the EU formally requests consultations, the parties will have up to two months to reach a mutually acceptable solution. If no agreement is reached, the EU may request the creation of a dispute resolution panel to issue a ruling. –0–