German automakers offer to end EU's tariff's on United States autos

White House downplays China trade tensions as ‘dispute

Earlier this month, Mexico imposed a series of tariffs on $3 billion worth of U.S. exports of pork, apples, potatoes, bourbon as well as different types of cheese.

The tariffs, which took effect at midnight, further fuelled jitters on world stock markets that were already alarmed by trade tensions between the United States and China.

On Monday, President Trump threatened to hit $200 billion of Chinese imports with 10-percent tariffs if Beijing retaliates against the initial $50 billion in levies that the USA imposed on Chinese goods.

The move confirms a tit-for-tat dispute that could escalate into a full trade war, particularly if US President Donald Trump carries out his threat to penalise European cars.

The EU's retaliatory tariffs against the U.S. came into force this morning, affecting products such as bourbon whiskey, jeans, motorbikes and orange juice. "However, the unilateral and unjustified decision of the U.S.to impose steel and aluminum tariffs on the European Union means that we are left with no other choice".

Malmstrom said that "we are left with no other choice".

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Although American goods already in the United Kingdom will not increase in price overnight, shipments leaving the USA for Europe from Friday onwards will be charged the tariffs.

President Donald Trump has threatened to hit $200 billion in Chinese exports with tariffs, in addition to goods worth $50 billion the U.S. has already targeted.

The EU said that if the situation isn't resolved, or if the USA responds with more tariffs, the EU said that it will add additional tariffs on 160 US products worth $4.3 billion.

Some of the products chosen are created to target the states controlled by Republicans, who are seeking to retain control of both chambers of Congress in November elections. If the WTO rules in its favor, or after three years if the case is still going on, the European Union plans to impose further tariffs of 3.6 billion euros on USA products. "The U.S.is accustomed to holding "big sticks" for negotiations, but this approach does not apply to China".

"We did not want to be in this position".

One thing that may cause Beijing to hold back from a full-scale attack on American companies is concern about the impact it would have on the domestic economy.

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