Trade War Talks Heat Up: ETFs & Stocks In Focus
Zacks Investment Research | Mar 06, 2018 09:59PM ET
The European Union (EU) has threatened the United States of a tit-for-tat situation should Trump impose a 25% tax on foreign steel. This is especially true as the EU would propose a retaliatory tariff of 25% on a range of consumer, agricultural and steel products imported from the country, valued about 2.8 billion euros ($3.5 billion).
The targeted products include shirts, jeans, cosmetics, other consumer goods, motorbikes and pleasure boats worth around 1 billion euros; orange juice, bourbon whiskey, corn and other agricultural products totaling 951 million euros; and steel and other industrial products valued at 854 million euros.
In a counter-attack, Trump warned the EU that he would impose a 25% penalty on European car imports if the bloc carried out punitive measures against the metals tariffs. He reiterated his commitment to levying tariffs on steel and aluminum, saying that the United States has poor trading conditions with other nations, including those in the EU. According to the latest data from the European Automobile Manufacturers' Association (ACEA), EU and U.S. auto-related trade account for around 10% of total trade between the two regions (read: Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.