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September 16, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

EU reportedly targets Xerox in retaliatory tariff response

Xerox Corp. is reportedly among the U.S. corporations that will be targeted by the European Union (EU) for retaliatory tariffs if President Trump proceeds with his threat to impose levies on automotive products imported from the 28-nation bloc.

According to a Bloomberg news report based on input from a single anonymous source, the EU’s European Commission has created a confidential list of U.S. firms that will be targeted in a tit-for-tat response against the possibility of new tariffs that would be enacted if the president carries out his planned tariff policies. Besides the products created by the Norwalk-headquartered Xerox Corp., the EU list reportedly includes trucks made by Caterpillar Inc. and luggage manufactured by Samsonite International.

Malmström

EU Trade Commissioner Cecilia Malmström acknowledged plans for retaliatory tariffs against U.S. companies, but did not affirm which companies were being targeted.

“Should there be tariffs on car and car parts, which we don’t want, we have started internally to prepare a list of rebalancing measures,” said Malmström at a press conference. “There is full support to do this.”

However, Malmström added that the EU plans to begin formal negotiations with the Trump administration in March to resolve trade differences and terminate potential tariffs before they go into effect. The European Commission’s current term ends on Oct. 31 and Malmstrom said that a settlement could be reached before that date.

“I think it can be done during this mandate,” she said. “We’re not delaying anything.”