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The EU calculated the losses of the US because of the new duties on the car

The EU calculated the losses of the US because of the new duties on the car

July 2 2018
Tags: USA, EU, Economy, Transport

The possible introduction by Washington of import duties on cars and auto parts from the EU can lead to countermeasures by trading partners for the amount of about 294 billion dollars, the EU commentary on the investigation of the possibility of imposing such duties says.

President of the United States Donald Trump in June threatened that the US will impose duties in 20% on cars from the European Union. The EU responded that such measures would primarily damage the US itself - harm trade, economic growth and employment, weakening ties with friends and allies. They also noted that such measures would violate the rules of international trade.

"The US trade restrictions can lead to the fact that a very significant amount of US exports estimated at 294 billion dollars, or about 19% of the total US exports in 2017, may be affected," the European Union said in a statement, RIA Novosti reports. .

The EU is confident that the introduction of Washington's import duties on cars of European manufacture will undermine the US economy and actually tax the American consumer.

"European automotive companies operating in the US export almost 60% of their products to other countries, improving the US trade balance and directly providing 120 thousand jobs, indirectly - 420 thousand (at US component suppliers). Tariffs will also actually turn into a tax for American consumers, "the EU noted.

In May, Trump reported that he had instructed the US Department of Commerce to investigate whether the decline in the production of cars and parts in the US had resulted in a decline in "innovation and research" and whether it threatened the country's national security.

Alina Nazarova
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