WASHINGTON, Aug 7 (Bernama-dpa) — United States (US) President Donald Trump’s tariffs on imports from European Union members and dozens of other countries are set to take effect on Thursday, reported German Press Agency (dpa).
According to US officials, the tariffs will apply from midnight in Washington (0400 GMT). However, the European Commission expects the 15 per cent levy on most EU products to take effect on Friday.
The new and varied tariff rates affect imports from around 70 countries, including the 27 EU member states.
The EU has pledged to make significant investments in the US alongside accepting the 15 per cent tariff. The exact terms and timing of those investments are still under negotiation.
Two major trade partners – China and Mexico – are on different tariff timelines as trade negotiations continue.
Trump has meanwhile threatened, or already ordered, additional tariffs on countries accused of conducting business with Russia, arguing such ties indirectly support Moscow’s war against Ukraine.
–BERNAMA-dpa