EU may impose duties on products from the United States if America will limit imports of steel

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This week never ceases to amaze analysts around the world monitoring the actions of the USA in the economic sphere. Protectionism continues to set the tone of the entire policy that creates global problems in the traditional industries already in the EU. The European Union for several days may impose retaliatory tariffs on important products from the United States, if Washington’s planned restrictions on the import of steel and aluminum will affect European companies, told the newspaper Frankfurter Allgemeine Zeitung, citing sources in the European Commission.
According to the newspaper, retaliatory duty may be imposed on a wide list of U.S. products from orange juice to motorcycles and whiskey. According to interlocutors of the newspaper, the head of the list of the European Commission agricultural products from the United States, including potatoes and tomatoes. They obviously liked the course of our government’s explanation of the wrongness of the position of Turkey in the Syrian conflict, and the meme “tomatoes will not get” adopted seriously and for a long time. While the Europeans wanted to strengthen the sensitivity of the response to the fact that the strike is expected to cause the goods of importance for electoral districts closest supporters of the President of the United States Donald trump.
At the end of last week, the U.S. Commerce Secretary Wilbur Ross proposed to introduce large-scale protectionist duties on imports of aluminum and steel from 14 countries to protect “national security of the United States”. Ross proposed three different options: to increase the import duty to not less than 24% for all countries, either to increase the tariff to at least 53% on imports from 12 countries, Russia, China, Brazil, Costa Rica, Egypt, India, Malaysia, South Korea, South Africa, Thailand, Turkey and Vietnam.
As a third option proposes the introduction of “quotas for all products from all countries, equal to 63% of their exports in 2017”. Supplies of metals ferrous and non-ferrous metals, and products from him (not only sell ingots and initial rental) from Russia make up a very large part of the export, therefore such restrictions will inevitably lead to increased cost of production for both sides and mass manifestation of the companies advertising that will sell goods from the position of third countries. The reaction of the Russian companies and their investors was not the rainbow, but over the three years of sanctions, the search for new opportunities is faster and more efficient, so the major drawdown is not expected.
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Nikolay Shiryaev
Expert
“International financial center”