EU welcomes US tariffs at 10% as exemption on key goods eases trade tensions after Google fine.
BRUSSELS: The European Union expressed relief Friday over a new wave of US tariffs imposed by Washington on trading partners, following concerns of possible retaliation to a massive fine Brussels had slapped on US giant Google.
“The EU notes positively the fact that this outcome is in line with the US tariff commitments agreed under the EU-US Joint Statement,” said European Commission spokesman, Olof Gill.
The statement comes as a new wave of US tariffs targeting 60 trading partners took effect Friday, replacing an expiring global duty rolled out by President Donald Trump earlier this year.
The new levies range from 10 percent to 12.5 percent and impact major economies like China, India and the European Union.
The EU spokesman said that the new regime would establish an all-inclusive tax rate of 10 percent for the EU and reintroduce additional customs duty exemptions on certain European products, such as cork and diamonds.
In addition, other goods such as aircraft and their spare parts, and generic medicines were also exempt, Gill noted.
This would create a “positive dynamic” for transatlantic discussions on various topics ranging from strategic raw materials to artificial intelligence, he said.
Washington’s announcement came just a few hours after the EU’s decision to impose a fine of 890 million euros (nearly $1 billion) on Google for anticompetitive practices in the digital sector.
This had fuelled European fears of possible retaliatory measures from Washington, for example in the form of higher customs duties, with the Trump administration regularly accusing the EU of unfairly targeting US companies via its digital regulations.
The fine imposed on Google “creates uncertainty” in trade relations with the US, White House Trade Representative Jamieson Greer had warned Thursday, seeing in it “a real risk” to the maintenance of transatlantic stability.
