China also threatens to impose tariffs
EU wants to hit Trump with corn tariff
The trade war between Europe and the United States (US) is one step closer after Gary Cohn, the adviser to US President Donald Trump, has resigned. He strongly opposes increased import tariffs. Europe meanwhile threatens reprisals; including a hefty import tax on maize.
The reason is the fact that Trump the American steel industry wants to protect it by introducing import tariffs on steel (25%) and aluminum (10%). Gary Cohn, one of Trump's top advisers, does not agree with the tariffs and has therefore resigned. Trump says he will stand his ground because his voters are counting on him.
Targeted countermeasures
The European Union (EU) threatens with countermeasures if Trump carries out his plans. Bloomberg, for example, has a list that shows that American steel, clothing, motorcycles (Harley Davidson) and various types of fruit will be taxed with 25%. Corn and soy are also mentioned. The Netherlands is said to be in serious trouble if it comes to a trade war. This is because the Netherlands conducts and carries through a relatively large amount of world trade.
The countermeasures are not just invented. According to Bernard Hammelburg, foreign commentator at BNR Nieuwsradio, they should hit Trump's voters in the wallet. This is partly due to an import tax on maize and soy. With annual exports of 52 million tons of corn, the US is the largest corn exporter in the world. The EU is the second largest maize importer, with a volume of 16,2 million. In response to the European measures, Trump threatens with import duties on European cars.
Canada and China also threaten
The import duties on steel and aluminum also affect the Chinese and Canadian steel industries. They also threaten sanctions. For example, import duties on American cattle and pork are mentioned. Both countries are among the largest buyers of American meat.
Wouter Job
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