22, June 2018
EU’s tit-for-tat tariffs on US goods come into force 0
The European Union slapped revenge tariffs on iconic US products including bourbon, jeans and motorcycles on Friday in its opening salvo in a trade war with President Donald Trump.
The tariffs, which took effect at midnight (2200 GMT Thursday) according to the EU’s official journal, will further fuel jitters on world stock markets that are already alarmed by trade tensions between the United States and China.
Customs agents across the Europe’s colossal market of 500 million people will now impose the duty, hiking prices on US-made products in supermarkets and across factory floors.
Brussels imposed the raft of duties on US products worth 2.8 billion euros ($3.3 billion) in a tit-for-tat response to Trump’s decision to slap stiff tariffs on European steel and aluminium exports.
EU Trade Commissioner Cecilia Malmstrom said this week that the 28-nation bloc was “left with no other choice” but to impose tariffs of its own after the “unilateral and unjustified decision of the US.”
Together with US tariffs against Mexico and Canada, the trade battles have raised the spectre of a global trade war, spooking financial markets that fear major consequences to the global economy.
“We have a trade war — and it’s an escalating trade war,” SEB chief economist Robert Bergqvist told AFP in an interview.
Brussels first drew up the list in March when Trump initially floated the 25 percent tariffs on steel imports and 10 percent on aluminium, which also target Canada, Mexico and other close allies.
The list does not specifically name brands but European Commission chief Jean-Claude Juncker spelled out in March that the bloc would target “Harley-Davidson, bourbon and Levi’s jeans”.
Cranberries, cranberry juice, orange juice, sweetcorn and peanut butter are among the other food products targeted.
The list also hits clothing along with bed linen and men’s leather footwear, eye make-up and lipsticks, plus a host of steel products.
‘Against all logic’
Juncker said on Thursday that the US decision to impose tariffs “goes against all logic and history”.
“Our response must be clear but measured. We will do what we have to do to rebalance and safeguard,” he said.
European consumers would be able to find “alternatives”, European Commission Vice President for trade Jyrki Katainen said.
“If we chose products like Harley Davidson, peanut butter and bourbon, it’s because there are alternatives on the market. We don’t want to do anything that would harm consumers,” he said on Thursday.
“What’s more, these products will have a strong symbolic political impact.”
Analyst Bergqvist argued that his “main concern” over a trade war was the impact on stock markets — and the subsequent knock-on effect for the world economy.
“All these kind of things going on right now could trigger that kind of behaviour and initiate a correction in the stock markets, and that could also trigger a slowdown in the global economy,” he said.
Relations reach new lows
Transatlantic ties are at their lowest level for many years due to rows over a host of issues including the tariffs, the Paris climate agreement, the Iran nuclear deal and the new US embassy in Jerusalem.
Relations plumbed new depths at the recent G7 summit when Trump abruptly rejected the joint statement and bitterly insulted his Canadian host, Prime Minister Justin Trudeau.
Trump claimed America had been obliged to levy the metals tariffs as it has been exploited as the world’s “piggy bank”. He is also targeting EU auto imports with a US probe now underway.
Trump’s outbursts were the latest in which he has clashed with America’s closest allies, even as he has had warm words for autocrats like North Korean leader Kim Jong un, with whom he had a historic meeting last week, and Russia’s Vladimir Putin.
But US Assistant Secretary of State for European and Eurasian affairs Wess Mitchell said on Thursday that Trump’s approach towards his allies was about “strategic renovation”.
“Strengthening the West means making hard decisions today when we initially disagree, rather than continuing to accept the appearance of transatlantic unity for the sake of avoiding disagreement,” he told the Carnegie Europe think-tank in Brussels.
(AFP)






















22, June 2018
Teenager Mbappe sends France through to last 16 as Peru knocked out 0
France beat Peru 1-0 with a goal from Kylian Mbappe on Thursday to book their place in the last 16 of the World Cup and crush the South Americans’ hopes of progressing in their first appearance at the tournament for 36 years.
Mbappe’s 34th minute goal took him past David Trezeguet’s record (20) as France’s youngest scorer in the competition, at 19 years of age, and took them to two wins from two games in Group C.
When Olivier Giroud’s shot took a deflection off a defender and looped over goalkeeper Pedro Gallese, the teenager was on hand to tap in a simple chance.
But Les Bleus failed to convert several other first-half chances and rarely threatened their opponents’ goal after the break, as they struggled for the second game running to justify their status as one of the pre-tournament favourites.
The result leaves France on six points and Denmark and Australia on four and one respectively after their 1-1 draw earlier in the day.
Peru have yet to win a point but they have won numerous hearts in Russia, thanks to their industrious style of play and the passion of their supporters, a remarkable 15,000 of whom made the journey to roar on their team in Yekaterinburg.
They could have had even more to cheer, were it not for several near misses.
Spotting goalkeeper Hugo Lloris off his line, Yoshimar Yotun tried an audacious shot from just inside the French half that went just over the bar as Peru unsettled their opponents in the early stages.
Later in the first half, striker Paolo Guerrero outsmarted Samuel Umtiti in the penalty area but fired his shot at Lloris’s legs.
After the break, Pedro Aquino hit the post and Andre Carrillo and Luis Advincula struck powerful shots over the bar, but all the Peruvian efforts were from long range.
Having survived a nervous opening 10 minutes, France looked as though they might dominate the match, with Antoine Griezmann darting at Peru’s defence, Mbappe showing off his tricks and flicks, and full backs Benjamin Pavard and Lucas Hernandez pressing forward on the wings.
But they were subdued in the second half, suffering frustration in the closing minutes when Blaise Matuidi shot just wide and Giroud had an effort blocked that ballooned over the top of the goal.
(REUTERS)