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EU-US trade war talk heats up after Trump steel tariff threat

EU-US trade war talk heats up after Trump steel tariff threat
Copyright  REUTERS
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American brands including Levi jeans and bourbon could face an import tax of up to 25% from the EU if President Trump goes ahead with his threat to place tariffs on European steel and aluminium.

EU Commissioner for Trade, Cecilia Malmström, told the BBC that the items were on a draft list of US goods to be taxed.

Last week, president Trump made the shock announcement to tax imported steel and aluminium.

During a White House meeting with industry executives on Thursday, he said: "'It'll be 25% for steel, it'll be 10% for aluminium, it will be for a long period of time."

He later added that trade wars were good - and his trade wars are escalating.

On Saturday Trump also threatened to tax European car imports if the continent retaliates against his plans for steel and aluminium.

Tariffs are used to restrict trade, as they increase the price of imported goods and services. His comments have prompted international reaction.

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