EU, Japan to put tariffs on US goods

The European Union and Japan plan to impose punitive tariffs on more than $135 million of American exports, retaliating for a law that hands customs duties to US companies, violating global trade rules, the EU said.

The World Trade Organisation ruled in August that the EU, Japan and six other governments can impose extra levies on US imports after Congress failed to repeal a law that distributes import duties to companies such as Timken Co US.