Apprehensiveness of ‘trade war’ in world economy!
Saturday - June 23, 2018 2:48 pm ,
Category : WTN SPECIAL
Conflict between US and EU over import duty
JUNE 23 (WTN) - The world economy stands at the edge of the ‘trade war’. We are saying that because after the tariffs increased by US on aluminum and steel, the European Union has now responded. The EU has responded in a ‘trade war’ with the United States, charging on popular American products such as Bourbon whiskey, jeans and motorcycle.
After this action of the European Union, US President Donald Trump has given a new warning for charging 20 percent import duty on the cars export from the European Union. According to information received from the media, the European Union charges have been effective from midnight on June 22.
According to the information, French finance minister Bruno Le Maire has said, "These steps are a logical consequence of America's decision. The US had imposed duty on European steel and aluminum products, in response to the European Union has charged 2.8 billion Euros (US $ 3.3 billion) on US products.
Here, Donald Trump, responding to the move by the European Union, said, "Considering the import duties being imposed since long time and trade barriers by the European Union, if these charges are not removed quickly, We will charge 20 percent import duty on cars.”
For your information, let you know that not only the EU, India has also increased import duty on 29 American products after this move. However, this increase by India will be effective from 4th August. India has increased the duty on many products such as peas, gram, lentil pulses, almonds and walnuts. India has increased duty on peas from 30 percent to 70 percent. Apart from this, 40% increase in duty on gram and lentil pulse has been increased to 70%. Therein Increasing US tariffs will have an additional burden of Rs.1638 crore on India.
Due to the ‘war of import duty’ between the United States and the European Union, the stock markets around the world can be shocked by the fact that the trade between the United States and China is already facing a stalemate. For your information, let you know that US President Donald Trump had imposed 25 percent duty on goods worth $ 50 billion imported from China a few days ago. The United States accused Beijing of intellectual copyright theft, saying that if China takes retaliatory action, it will be charged again. This import duty will be imposed on 800 types of products and it will be applicable from July 6.
The ‘mouth war’ that began in the last days about business interests between the two biggest economies of the world, America and China, is now seen as a warning of a big ‘trade war’. Now if the conflict between the US and the EU continues to worsen, the world trade will have a bad effect.
JUNE 23 (WTN) - The world economy stands at the edge of the ‘trade war’. We are saying that because after the tariffs increased by US on aluminum and steel, the European Union has now responded. The EU has responded in a ‘trade war’ with the United States, charging on popular American products such as Bourbon whiskey, jeans and motorcycle.
After this action of the European Union, US President Donald Trump has given a new warning for charging 20 percent import duty on the cars export from the European Union. According to information received from the media, the European Union charges have been effective from midnight on June 22.
According to the information, French finance minister Bruno Le Maire has said, "These steps are a logical consequence of America's decision. The US had imposed duty on European steel and aluminum products, in response to the European Union has charged 2.8 billion Euros (US $ 3.3 billion) on US products.
Here, Donald Trump, responding to the move by the European Union, said, "Considering the import duties being imposed since long time and trade barriers by the European Union, if these charges are not removed quickly, We will charge 20 percent import duty on cars.”
For your information, let you know that not only the EU, India has also increased import duty on 29 American products after this move. However, this increase by India will be effective from 4th August. India has increased the duty on many products such as peas, gram, lentil pulses, almonds and walnuts. India has increased duty on peas from 30 percent to 70 percent. Apart from this, 40% increase in duty on gram and lentil pulse has been increased to 70%. Therein Increasing US tariffs will have an additional burden of Rs.1638 crore on India.
Due to the ‘war of import duty’ between the United States and the European Union, the stock markets around the world can be shocked by the fact that the trade between the United States and China is already facing a stalemate. For your information, let you know that US President Donald Trump had imposed 25 percent duty on goods worth $ 50 billion imported from China a few days ago. The United States accused Beijing of intellectual copyright theft, saying that if China takes retaliatory action, it will be charged again. This import duty will be imposed on 800 types of products and it will be applicable from July 6.
The ‘mouth war’ that began in the last days about business interests between the two biggest economies of the world, America and China, is now seen as a warning of a big ‘trade war’. Now if the conflict between the US and the EU continues to worsen, the world trade will have a bad effect.
