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How tariffs in the EU work
How tariffs in the EU work
Economy
by  AFP

Customs duties, or tariffs, have become a political punching ball as the European Union prepares to respond to US President Donald Trump's recent offensive. Typically, very low customs duties are applied to oil or liquefied gas "because consumers and companies need them, and the European Union does not necessarily produce them," said Guimbard.

'Catastrophe': Volkswagen town rattled by Trump trade war
'Catastrophe': Volkswagen town rattled by Trump trade war
Economy
by  AFP

The dour mood at Germany's crisis-hit auto giant Volkswagen has given way to angst and fury as US President Donald Trump has escalated a trade war against friends and foes alike. Veteran auto workers who spent decades at the plants of Germany's storied industrial titan fear for the worst since Trump has ramped up a range of import tariffs, sparking global market turmoil.