A Harley-Davidson will cost you a little more in France; Florida orange juice will be more expensive in Germany and American soybeans will go up in price everywhere across Europe. The European Union has decided to start taking the fight back to President Trump with a round of retaliatory tariffs. The trouble is, it is making a big mistake. Sure, we can all understand the desire to stand up to what it sees as bullying. But it is not going to win this battle.
In the wake of President Trump’s decision to impose a 20 per cent tariff on everything the EU sells in the United States, some form of retaliation was probably always inevitable. The bloc has just agreed on counter-measures worth €22 billion with the first round likely to be announced as early as next week. Motorbikes, fruit juice and soybeans are all likely to feature on the list, with higher tariffs imposed on American exports into Europe.
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