The U.S. Chamber of Commerce Is Fighting Trump's Tariffs with Facts

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As well as the tariff threats, the European Commission is also believed to have warned Trump that his behaviour could "result in yet another disregard of worldwide law" by the U.S., as well as saying that any auto tariffs would "damage further the reputation" of the country. The comments were sent to the US Department of Commerce on Friday and published on Monday. And the E.U. has warned that it will go much bigger if Trump follows through on his threat to put tariffs on European cars, potentially imposing retaliatory tariffs on nearly $300 billion of us exports.

Amid escalating transatlantic trade tensions, the European Union has sent a strong warning to US President Donald Trump about the real costs of putting tariffs on cars.

In a push against President Trump's move to increase taxes on imported goods, the nonprofit released a study outlining economies it deems to be the most vulnerable in the event of a trade war.

"But we've put on these unilateral tariffs", said Warner, principal at MAAW Law, in an interview with BNN Bloomberg Tuesday.

Affected exports to the European Union, $133 million, include beauty products. The German auto manufacturer added that imposing duties would not increase US growth and competitiveness.

Now that they have their tax cut safely in hand, the business community has apparently gotten fed up with Donald Trump. "If China increases its tariffs yet again, we will meet that action by pursuing additional tariffs on another $200 billion of goods". With state-by-state analysis, the business lobbying giant argues the new tariffs risk a global trade war that will harm Americans.

United States holds talks on next steps with North Korea
Instead, there are indications that instead of stopping its nuclear and missile programs, Pyongyang is continuing to bulk them up. The content of this image is as provided and can not be independently verified.

That tactic is similar to the EU's retaliation on metals tariffs that came after Trump's administration on June 1 struck Europe as well as allies in Canada, Mexico and elsewhere with tariffs on aluminium and steel.

Assuming counter-measures along the lines of those taken in response to existing USA import tariffs on steel and aluminium, up to US$294 billion of United States exports - 19% of overall U.S. exports - could be affected, the submission said.

While it says that it sources circuit boards from USA suppliers wherever possible, "paying up to 30% over the price of the same circuit boards made overseas", the majority of the raw components still come from China and it will be unable to avoid the cost increase.

Mr. Trump's administration wants Germany - which would be hardest hit by automotive tariffs - to pressure the European Union to come to an agreement.

Those measures have drawn retaliatory tariffs on billions of dollars of USA exports from major trading partners including China, the European Union, Canada and Mexico. Chamber of Commerce (.pdf), 579,300 are supported by global trade and approximately 6,160 companies export goods from locations in the state.

The EU said in its submission that EU companies make around 2.9 million cars in the United States, which supports 120,000 jobs, or 420,000 jobs if vehicle dealerships and auto part retailers are included.