Despite the upcoming 2020 election that held high hopes for a possible Trade War resolution, the Trump administration proposed imposing duties on imports from France over a tech Tax and announced tariffs on aluminum and steel from Brazil and Argentina.
Brazil and Argentina
President Donald Trump opened a new front on the Trade War announcing on Monday effective immediately tariffs on industrial metals imported from Brazil and Argentina, stating the move was necessary to counter what he called a “Massive devaluation of their currencies” at the expense of American farmers.
The U.S. is also eyeing tariffs of up to 100 percent on dozens of popular French products including yogurt, butter, cheese, cosmetics, soap, handbags, and dinnerware.
This proposal of imposing additional tariffs is a response from the USTR after a release of a five-month investigation that concluded a French digital services tax discriminated against American internet companies. However, the proposal still awaits a presidential decision.
According to press sources, French Finance Minister Bruno Le Maire said the EU “would be ready to retaliate” if the U.S. imposes those tariffs.
Despite Beijing’s efforts to cancel the additional 15 percent tariff increase on list 4B set to be effective on December 15th, President Trump suggested the increase would still take effect as scheduled as he announced this week that an agreement could be delayed until after the presidential election in November 2020.