The EU has threatened to impose retaliatory tariffs on hundreds of US goods if trade negotiations fail, including many agricultural products, cosmetics and toilet paper - Photo: USA TODAY
EU threatens to impose 25% tax on hundreds of US goods
According to CNN on April 15, the European Union (EU) warned that it would impose 25% retaliatory tariffs on hundreds of US products - including toilet paper, soybeans and cosmetics - if trade negotiations with the US do not produce results.
The retaliatory move is a direct response to US President Donald Trump's heavy tariffs on steel, aluminum, cars and other goods from Europe.
Both sides have now suspended the measures for 90 days to allow time for negotiations, but the EU has said: "If the negotiations do not produce satisfactory results, EU measures will be applied."
On the EU list, about 400 US products could be subject to increased tariffs from mid-July, and more than 1,300 other products could be subject to tariffs at the same time or at a later date.
America's biggest exports to Europe, such as oil and gas, pharmaceuticals and medical devices, have largely been spared from tariffs, but key agricultural products such as soybeans, almonds and fresh fruit are on the retaliation list.
The EU is also working on a formal response to the remaining US tariffs, including a 25% tariff on cars and a 20% “retaliatory” tariff on other goods (now temporarily reduced to 10% for 90 days). The situation remains tense and could escalate if the two sides fail to reach an agreement in the near future.
France and other EU countries have expressed deep concern over the tensions. French Minister Francois Bayrou said US trading partners were being forced to take retaliatory measures "which are dangerous in themselves".
"The US president has unleashed a storm - the consequences of which will not go away anytime soon - by suddenly igniting a global trade war overnight without warning, imposing unimaginable tariffs," he said.
Indonesia plans to import an additional $10 billion in energy from the US
On April 15, Indonesian Energy Minister Bahlil Lahadalia said the country will propose increasing imports of crude oil and liquefied petroleum gas (LPG) from the US by about 10 billion USD.
The news comes as Indonesian officials head to Washington on Tuesday for talks on tariffs imposed by the Trump administration.
Cargo port in Jakarta, Indonesia - Photo: REUTERS
In total, Indonesia plans to buy US goods worth $18-19 billion to eliminate its trade surplus and avoid Washington's 32% reciprocal tariff.
The country's energy ministry has increased LPG import quotas as well as imported more US crude oil to help meet the target, Bahlil said.
As such, Indonesia will need to cut LPG imports from other sources. Reuters quoted Putra Adhiguna, executive director of the Energy Shift Institute of Indonesia, as saying that the country could reduce LPG imports from non-US sources by 20% to 30%, depending on current contracts.
Data from analytics firm Kpler shows Indonesia imported 217,000 barrels of LPG per day last year, of which about 124,000 barrels were from the United States. About 23,000 barrels were imported from Qatar, and 40,000 barrels from the United Arab Emirates and Saudi Arabia.
Indonesia also imported about 306,000 barrels of crude oil per day last year, with Nigeria, Saudi Arabia and Angola among other suppliers. About 13,000 barrels were imported from the United States.
Asked about the proposed US LPG imports, a spokesman for state-owned energy company Pertamina, Indonesia's largest LPG retailer, said the company was evaluating imports and awaiting instructions from the government .
Similarly, Thai Prime Minister Paetongtarn Shinawatra announced that the country will increase imports of energy, aircraft and agricultural products from the US to counter the 36% US tariff. The country is also encouraging more investment in the US, according to Thai PBS. Bangkok has sent a delegation to the US to discuss the tariffs.
Source: https://tuoitre.vn/dam-phan-thue-quan-voi-my-eu-doa-tra-dua-indonesia-tinh-nhap-them-10-ti-usd-nang-luong-20250416121703234.htm
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