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EU retaliatory tariffs on US goods come into force

The European Union (EU) has introduced retaliatory tariffs on US goods as a top official launched a fresh attack on President Donald Trump’s trade policy.

The duties on US goods worth of 2.8 billion euros came into force today. Tariffs have been imposed on products such as bourbon whiskey, motorcycles and orange juice.

European Commission President Jean-Claude Juncker said duties imposed by the US on the EU go against all logic and history.

India, meanwhile, has said it will raise taxes on 29 products imported from the US, including some agricultural goods, steel and iron products – in retaliation for the wide-ranging US tariffs.

The new duties will come into effect from 4 August this year and will affect US almonds, walnuts and chick peas, among other products.

India is a top buyer of US almonds and so the move is expected to hurt farmers in America.

The Trump administration announced in March that it would introduce tariffs of 25 per cent on steel and 10 per cent on aluminium imported into the US.

Source: AIR