The EU has agreed to impose retaliatory tariffs on €21bn (£18bn) of US goods, targeting farm produce and products from Republican states, in Europe’s first act of retaliation against Donald Trump’s tariffs.

The EU plans to introduce 25% tariffs on scores of goods from almonds to yachts, with the first duties being collected from 15 April, while the bulk apply from 15 May and the remainder from 1 December.

In a statement confirming the favourable vote by EU member states, the European Commission said: “The EU considers US tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy.”

The tariffs include US soya beans, grown abundantly in Louisiana, the home state of the House of Representatives speaker, Mike Johnson.

Ahead of the vote, analysis of the leaked list of customs codes by Politico found that EU duties would hit up to $13.5bn (£10.6bn) worth of exports from red states, including beef from Kansas and Nebraska, cigarettes from Florida and wood products from North Carolina, Georgia and Alabama.

The EU is facing calls to target US tech firms or banks in future retaliation, a potent but politically explosive target, as the US runs a €109bn (£94bn) trade surplus with the EU in service industries.

The outlook for negotiations is uncertain, amid questions over whether Trump’s goal is to create leverage over other countries – suggesting tariffs could be rolled back – or to raise revenues and reindustrialise the US, which points to their longevity.

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[–] 32 points 1 year ago (1 child)

Good thing I don't like almonds. Too bad about my yatcht ambitions tho. Oh well, maybe I'll switch to a helipoopter

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  • [–] 29 points 1 year ago (2 children)

    I mean they could go 250% on the yachts

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  • [–] 14 points 1 year ago (1 child)

    25% on tech services is where you'll see America panic.

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  • [+] 4 points 1 year ago* (last edited 1 year ago) (2 children)
  • [–] 1 point 1 year ago (3 children)

    But they still 'import' the provided service. I wonder if they can actually manage to get a company like netflix to pay import duties on foreign (read: us) made content, but if they find a way we're talking about a serious amount of money.

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  • [–] 4 points 1 year ago

    A tax on tech services would crush the US economy. And to be honest, every country should be taxing outside tech services - its a substantial risk to just hand out that data to foreign corporations and a substantial risk of lock in.

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  • [–] 1 point 1 year ago (1 child)

    No physical good crosses a border, which is the point when a tariff has to be paid normally. The cargo isn't allowed into the country unless the tax is paid.

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  • [–] 1 point 1 year ago

    Internet sevice providers could easily be roped into policing this. If you have a website with a paid service you can charge them a fee based on their monthly rates or the ISP gets a shutout notice for your business. You could even compel visa and mastercard to snitch on their accounts to get accurate subscription numbers without hassle.

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  • [–] 1 point 1 year ago (1 child)

    They are subsidiaries of US companies. You draft a list of wholly or majority US owned tech subsidiaries, and you tax them out of the wazoo, done.

    I'm sure tax and trade experts can come up with better approaches.

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  • [+] 1 point 1 year ago* (last edited 1 year ago) (1 child)
  • [–] 1 point 1 year ago

    And I love impotent people.

    Governments can and do target individuals, see sanctions on russian oligarchs. How is your memory so bad?

    Plus, new tax rules are drafted every single year, to encourage or slap down specific stuff, why you acting like it's impossible when it's not even rare?

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  • [–] 23 points 1 year ago (1 child)

    Stop fucking around and go for the tech

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  • [–] 14 points 1 year ago (4 children)

    Oh no! Anyhow, is there nothing coming from the US that startz with Z?

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  • [–] 11 points 1 year ago
    [–] 10 points 1 year ago (1 child)

    Aw man, I was gonna buy a yacht from Europe

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  • [–] 6 points 1 year ago (1 child)

    If you are in the US: that is not how it works. US yachts will become more expensive in Europe. Not the other way around.

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  • [–] 2 points 1 year ago (1 child)
  • [–] 3 points 1 year ago (1 child)

    Unless the Canadian government put a tariff on US/EU yachts they're still as cheap as ever.

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  • [–] 1 point 1 year ago (2 children)

    What if I want to go to Europe and buy an American yacht?

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  • [–] 9 points 1 year ago (3 children)

    I... I'm actually kind of surprised that American cigarettes are an export item. Surely to expats and pro-American Europeans who have lost all sense of taste and smell?

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  • [–] 15 points 1 year ago* (1 child)

    I always find it interesting how people become expats instead of immigrants just based on the fact that their country of origin is the US or the UK. Englishman in Spain? expat. US American in France? Expat. Pakistani in the UK? Immigrant. Mexican in the US? Immigrant.

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  • [–] 6 points 1 year ago

    Just depends on the perspective of the speaker.

    If I live in the UK and my neighbour leaves the UK to go to Spain - Expatriate.

    If I live in Spain and the same person arrives to be my neighbour - Immigrant...well, inmigrante.

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  • [–] 8 points 1 year ago (1 child)
  • [+] 4 points 1 year ago* (last edited 1 year ago)
    [+] 1 point 1 year ago
    [–] 1 point 1 year ago

    Bezos in shambles. Yaughts 25% more expensive

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