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20.06.201822:42 Forex Analysis & Reviews: Trade Wars: The EU will strike back on Trump June 22

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Trade Wars: The EU will strike back on Trump June 22

The European Union agreed on a response to the duties imposed by Trump on steel and aluminum. The EU spent three months in fruitless negotiations, trying to convince Trump to give privileges to his allies. Trump remained adamant, accusing Europe of discriminating against American cars and citing US $ 120 billion of the US trade deficit in trade with the EU (according to Merkel, taking into account services, the US in surplus).

As a result, on June 22, the EU will impose duties on 3.6 billion dollars of goods from the US. Harley motorcycles, Bourbon whiskeys, American jeans will fall under duties.

All this takes place against the backdrop of the rapid creeping of the US into a large-scale trade war with another main partner, China, on this front, hostilities will begin in the first week of July.

The war on two fronts is rarely successful.

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