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Wednesday
December 2018
5:48 PM IST
News Headlines
Aussies will fight back, but India has upper hand: Ghavri        World Tour Finals: Tough road ahead for Sindhu; Sameer too eyes knockout berth        Govt should consider 100% FDI in multi-brand retail trade: CII report        Shaktikanta Das named new RBI Governor        Khashoggi, other journalists named Time 'Person of the Year'        May tours Europe in desperate bid to save Brexit deal        Three policemen killed in Shopian by terrorists; weapons snatched        13 of 19 Rajasthan ministers lose elections; CM Vasundhara Raje retains her seat        Clear message to Modi that People are unhappy and it is time for change: Rahul on poll results        Cong leads in R'than, Chhattisgarh and MP; TRS races ahead in Telangana, MNF in Mizoram        Shakhtar prepare for home match 700 kilometres from home        AC Milan let Inter off the hook with Torino stalemate        Sensex cracks over 550 pts; Nifty drops below 10,600        Trump's potential next chief of staff pick leaving White House        UK PM faces fight for her political life in Brexit deal        BJP mocks Oppn meet, asks them to reveal PM candidate's name        RBI Governor Urjit Patel makes loud noise with silent exit        RLSP chief Upendra Kushwaha resigns from Union council of ministers        1st Test: India in cruise control as Australia reduced to 104/4 chasing 323        Over 16000 runners take part in Pune Half Marathon        
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International News
EU targets peanut butter, orange juice, whiskey in Trump trade spat
 
Brussels, Mar 7 (AFP) The EU today said it would hit flagship US products including peanut butter, orange juice and bourbon whiskey with counter measures if US President Donald Trump goes ahead with threatened steel and aluminium tariffs.

The blow by Brussels came hours after Trump's trade offensive brought the resignation of his top economic advisor Gary Cohn, an influential ex-Goldman Sachs banker who fiercely opposed the measures.

EU trade commissioner Cecilia Malmstroem said a full-on transatlantic trade war was "not in anybody's interests" -- a stark contrast from Trump, who last week declared trade wars were "good and easy to win".

"A trade war has no winners," Sweden's Malmstroem told reporters after the European Commission, which handles trade matters for the bloc, discussed the tariffs.

"We should be very careful with that word... there are only losers in that, and that's why we will respond in a proportionate and balanced way."

The European Union is holding fire on its reprisals as Trump has yet to sign into effect his plan to set tariffs for what he calls unfair competition for US industry, but Malmstroem said a list of products had been drawn up including steel, industrial and agricultural items.

"Certain types of bourbon are on the list as are other items such as peanut butter, cranberries, orange juice," Malmstroem said.

European Commission chief Jean-Claude Juncker on Friday threatened to hit big-name US brands such as Harley Davidson motorbikes and Levi's jeans with import duties, prompting Trump to fire back a threat to tax cars from the EU.

Despite Juncker's headline-grabbing threat to iconic US brands, the EU's hitlist does not mention specific businesses.

Malmstroem said the EU was still trying to persuade Washington not to go ahead with the tariffs, which she said would threaten "thousands of European jobs".

The EU is also looking at "safeguard" measures to protect its industry -- restricting the bloc's imports of steel and aluminium to stop foreign supplies flooding the European market, which is allowed under World Trade Organisation (WTO) rules.

Trump, elected on a promise to roll back the effects of globalisation on the US economy with an "America First" platform, said Thursday he planned to impose 25 percent tariffs on steel imports and 10 percent on aluminium.

Juncker, who on Wednesday met Lakshmi Mittal, the boss of the world's top steelmaker ArcelorMittal, said last week the EU would "react firmly" to protect European industry.

Europe exports around five billion euros' ( 4 billion) worth of steel and a billion euros' worth of aluminium to the US each year, and the commission estimates Trump's tariffs could cost some 2.8 billion euros.

As well as making it harder for European metal to find buyers in the US, tariffs could also mean other foreign producers redirect their output to the EU, pushing the market there down.

Brussels wants to maximise the political impact of its reprisals on the US while minimising the impact of a trade war on European consumers.

European Commission Vice President Jyrki Katainen told AFP on Friday the bloc could form a "coalition of like-minded countries" to file a complaint at the WTO, though this procedure usually takes around two years.


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ENTERTAINMENT NEWS
Vaikom Vijayalekshmi ties knot with Anoop
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KERALA NEWS
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 (Kochi, Nov 28, 2018): Model and activist Rehana Fathima, who tried to reach Kerala's Sabarim
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BJP leader K Surendran, 71 others granted bail
Sabarimala protests: Arrests up to 2061, Kerala HC warns police
NATIONAL NEWS
Three policemen killed in Shopian by terrorists; weapons snatched
 Three policemen were killed Tuesday when Pakistan-based Jaish-e-Mohammed terrorists attacked a guard
13 of 19 Rajasthan ministers lose elections; CM Vasundhara Raje retains her seat
Clear message to Modi that People are unhappy and it is time for change: Rahul on poll results
BJP mocks Oppn meet, asks them to reveal PM candidate's name
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