EU vows to defend interests after US tariff threat

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  Hello and welcome to World Business Report here on the BBC World Service.

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  I'm Rahul Tandon.

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  We're talking tariffs on countries and also,

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  for the first time in a while on this programme,

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  about companies, mobile phone companies in particular.

• 00:11

  And Boeing strikes a deal with the Department of Justice to avoid prosecution for those 737 MAX crashes.

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  We'll get all the details from our correspondent.

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  But let us start the programme by talking once again about the issue of...

• 00:27

  tariffs and between particularly two of the world's big trading blocs, the EU and the United States.

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  Let's remind ourselves of what Donald Trump said when he unveiled those reciprocal tariffs 45 days ago.

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  You know, you think of European Union, very friendly.

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  They rip us off.

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  It's so sad to see.

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  It's so pathetic.

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  39 percent.

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  We're going to charge them 20 percent.

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  So we're charging them essentially half.

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  He then reduced that to 10%.

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  Well, now President Trump seems to be changing his mind once again.

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  He's recommending the imposition of 50% tariffs on goods from the EU.

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