Moog warns that Trump trade tariffs pose a threat to its business

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The EU has targeted US$3.2 billion in American goods exported to the 28-member bloc, including bourbon and Harley Davidson motorcycles. The EU has a 10% levy, compared with 2.5% for cars entering the United States.

They say China's decision in May to lower tariffs on imported cars will make little difference because imports make up such a small part of the market.

The number of exports that could be hit by retaliatory tariffs among the 10 most vulnerable states ranges from $1.7 billion in Pennsylvania to $6.2 billion in Washington.

Stocks on Wall Street were volatile as investors anxious about the mounting trade war between the United States and its trading partners.

Auto makers have warned the Trump administration against imposing the tariffs, with both General Motors and Mazda saying the measures would cause price increases for consumers.

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Trump went on to say "we also love the European Union" and point out that his parents were born within the area now encompassed by the European Union, before those countries were a part of the European Union.

The report assesses the immediate damage to the USA economy at $13 billion to $14 billion, with much larger indirect costs from retaliatory measures by the United States' trading partners. That same state, which flipped for Trump in 2016, is also expected to lose $624 million in soybean sales after China issued sweeping tariffs in response to Trump.

The commission said global retaliation against U.S. tariffs on auto imports would have a bigger impact on the United States economy than those provoked by the Trump administration's steel and aluminium tariffs. The EU, which described the move as "pure protectionism", introduced duties on US products in return, as did Mexico, Canada, Turkey and India.

Pushing back against Mr Trump, the chamber based a state-by-state analysis on data from the US Department of Commerce and government agencies in China, the EU, Mexico, and Canada.

Such a war could cost jobs, Bracken said.

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The US tariff on Chinese goods is threatening jobs at the Moog synthesiser company.

U.S. synth company Moog has warned that a 25% tariff on the import of Chinese goods brought in by President Trump could result in layoffs and the end of its instruments being made in the US.

Its ironic that the protectionist concept of trade tariffs will essentially threaten jobs in the USA, as usual in any conflict, trade or otherwise, there is always "collateral damage".

"I will tell you, China wants to make a deal and so do I, but it's got to be a fair deal for this country", he said.

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