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Stockreport

EU threatens tariffs on US products like peanut butter as trade war escalates [CNBC]

BARCLAYS (BCS)  More Company Research Source: CNBC
PDF show chapters The European Union outlined a three-pronged response to proposed metals tariffs from President Donald Trump 's U.S. administration Wednesday, mentioning items such as peanut butter, cranberries and orange juice that could see higher charges in Europe. Speaking at a press conference in Brussels, Cecilia Malmstrom, the EU's commissioner for trade, said the institution would take the case to the World Trade Organization and would coordinate its actions with other trade partners that are also against the proposed tariffs from the U.S. She also said that Brussels has prepared a provisional list of U.S. products that would see higher tariffs from the EU, if Trump does indeed move ahead with the import taxes. This list has not been made public, but according to leaks in the media, the EU's tariffs could amount to 2.83 billion euros ($3.52 billion). Malmstrom revealed that the list is made up of steel, industrial and agricultural products. C [Read more]

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