Afternoon Coffee: EU to Target Caterpillar, Xerox if Trump Puts Tariffs on Car Imports; U.S.-China Trade Summit in March?

photonewman/Adobe Stock

With the Trump administration set to rule on possible tariffs on auto imports from Europe, officials there have a planned response: Target U.S. brands like Caterpillar, Xerox and Samsonite luggage, a senior EU official tells Bloomberg News.

The source said the list of EU actions was in a confidential draft stage, Bloomberg reports.

Another EU official spoke on the record about other plans to prevent auto-related tariffs with a limited trans-Atlantic commercial accord but said the 28-nation bloc would have to respond to any levy.

“Should there be tariffs on car and car parts, which we don’t want, we have started internally to prepare a list of re-balancing measures,” EU Trade Commissioner Cecilia Malmstrom told reporters Friday in Bucharest after a meeting of the bloc’s commerce ministers. “There is full support to do this.”

China Buying $1.2 Trillion from U.S.?

The U.S. and China are discussing a late March summit for the nations’ leaders to discuss a trade deal, reports CNBC, which also says that China has agreed to buy $1.2 trillion in U.S. goods.

“The two sides remain far apart on issues concerning the forced transfer of intellectual property,” CNBC reports.

More news:

Kraft Heinz Has Procurement Problem

Go here for our coverage of Kraft Heinz’s problems with its procurement department and an inquiry from the U.S. Securities and Exchange commission — as well as our analyst Pierre Mitchell’s insights on procurement’s role in working with finance departments: Kraft Heinz Has Procurement Problem, Takes $25 Million Charge after SEC Inquiry, WSJ reports

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.