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Countries impose retaliatory tariffs, as tit-for-tat trade war continues
Countries impose retaliatory tariffs, as tit-for-tat trade war continues
Countries impose retaliatory tariffs, as tit-for-tat trade war continues

Published on: 03/13/2025

Description

Countries impacted by President Trump's tariffs are punching back — strategically.

The European Union announced tariffs on $28 billion worth of goods from the U.S., including poultry, bourbon and motorcycles.

"The European Union must act to protect consumers and business," European Commission President Ursula von der Leyen explained on Wednesday. "The countermeasures we take today are strong but proportionate."

The EU tariffs will go into effect in two steps, starting on April 1. They'll be fully imposed on April 13.

Some of the items on the list are intentionally aimed at targeting Republican-leaning states, according to Dr. Albert Williams, a professor of finance and economics at Nova Southeastern University.

"They're saying that if you hit us and some of the things coming over, we're going to hit you where it hurts," Williams said. "That's the thinking they have in mind right now."

China also imposed retaliatory tariffs this week, hitting U.S.-produced chicken, pork, beef and soybeans.

The measures take aim at U.S. farmers, a group who overwhelmingly supported President Trump in the last election.

"(Countries) are saying we are going to hit products that come from states where they urgently need to export," Williams said. "For example, beef and even soybeans and corn are produced by our farmers, and the farmers are generally supporters of our president, and therefore, if they hurt, they will cry foul and they will definitely send into their politicians: 'This is not working. We need some changes.'"

RELATED STORY | Trump threatens 200% tariff on European alcohol in response to EU whiskey tax

Right now, the countries involved are digging in. President Trump threatened a 200% tariff on alcohol from Europe after the EU announced its new tariffs.

Williams says the solution isn't continued tit-for-tat tariffs.

"This doesn't lead to a very easy solution," Williams said. "Solutions will only come when countries negotiate at this point in time."

News Source : https://www.kbzk.com/politics/president-trumps-first-100-days/countries-impose-retaliatory-tariffs-as-tit-for-tat-trade-war-continues

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