European Union is preparing lawsuit

The European Union is preparing a lawsuit against the US in the WTO

EU countries have started preparing the claim to the World Trade Organization against the United States, which the course can be given if the administration of Donald Trump will fulfill its campaign promises and will introduce a tax on imports, including those from the EU.

In an interview with Financial Times, said European Commission Vice President Jyrki Katainen on trade.

"If someone decided to act to the detriment of our interests and in violation of international trade, we have mechanisms for an adequate response. We have an internal agreement within the EU, and we are part of international agreements and organizations such as the WTO, and we will ensure compliance with the global framework of rules when it comes to trade"- Katainen said.

According to him, the suit may be joined by other US trading partners.

If the dispute between the US and the European Union comes to the WTO, it will become the largest proceedings in the history of the organization - it will affect the turnover in the amount of 385 billion dollars a year, says expert at the Institute Peterson Ched Braun.

Trump's Administration, we recall, is developing a package of protectionist measures under which urged "to make America great again" due to return to the US production and jobs.

In particular, Trump is planning to impose a 20-protsetnnym taxable imports of goods and services. With regard to agricultural products from the EU are prompted to enter duty reaches 100%.

Exports, on the other hand, it is proposed to stimulate the freeing from taxation of income from the supply of goods and services abroad.

The current system gives an unfair advantage to countries, supplying goods to the United States, resulting in domestic production of pants, but the economy is losing jobs, argues the head of the US National Trade Council Peter Navarro: EU tax system based on VAT, and exporters may receive benefits, and the United States in a system which is based on the income tax, the same mechanisms in the WTO is not possible.

Intsiative Trump will be the largest revision of the rules of world trade over the last 100 years, says Brown, of the Peterson Institute.

It will hit primarily by the American retailers who import goods into the United States. Representatives of retail chains, including Target, Best Buy and Gap, have already held a series of meetings in the Senate and will try to dissuade Trump from the introduction of import duties, he told Reuters on Monday.

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