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Europe threatens tit for tat tariffs on Levi's jeans

The European Union is threatening to target some of America’s most iconic brands if Donald Trump follows through on his threat to impose swinging tariffs on imports of steel and aluminum. According to the Trump if the EU wants to further increase their already massive tariffs and barriers on US companies doing business in the continent, there would be tax on their cars which freely pour into the US.

Juncker’s threat heightened the prospects of a global free-for-all, as the World Trade Organization (WTO) said the potential of escalating tensions “is real” and the International Monetary Fund (IMF) warned the restrictions would likely damage the US and global economy. According to Jean-Claude Juncker, the European Commission President Levi's jeans, Harley-Davidson motorbikes and bourbon could all receive tit-for-tat duty hikes. They include products manufactured in key Republican states as well as orange juice from Florida, a critical swing state in elections.

In the meantime, Peter Navarro, Director, National Trade Council at the White House, stated certain exemptions could be made to the tariffs on foreign steel and aluminum, but exclusions for entire countries aren’t expected.

 
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