U.S. ‘carousel’ tariffs could target a new slate of EU goods
EU awaiting a WTO ruling to authorize duties on U.S. products
The U.S. is weighing new tariffs on $3.1 billion of exports from
France, Germany, Spain and the U.K., adding to an arsenal the Trump
administration is threatening to use against Europe that could spiral
into a wider transatlantic trade fight later this summer.
U.S. Trade Representative wants to impose new tariffs on European
exports like olives, beer, gin and trucks, while increasing duties on
products including aircrafts, cheese and yogurt, according to a notice published late Tuesday evening. The statement lays out a month-long public comment period ending July 26.
European stocks fell by the most in a week, weighed down by
concerns about outbreaks of the Covid-19 virus and renewed worries about
trade tensions between the U.S. and Europe. Shares of beverage stocks,
luxury-goods companies and truck makers were among the losers.