The United States is preparing new tariffs on European goods worth $ 3.1 billion

Published 2020년 6월 25일

Tridge summary

The Office of the US Trade Representative is considering imposing duties of up to 100% on 30 types of goods from Europe, including olives, coffee, chocolate, confectionery, and alcoholic beverages. This is in response to the WTO's permission for the US to impose tariffs on European exports worth $7.5 billion, following a ruling that EU subsidies to Airbus were illegal. The proposal is open for public comment until July 26. If implemented, this could lead to a large-scale transatlantic trade war.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

These actions could result in a large-scale transatlantic trade war this summer, Bloomberg reports. The Office of the US Trade Representative has released a preliminary list of 30 types of goods for which duties of up to 100% may be imposed, including olives, coffee, chocolate, confectionery and alcoholic beverages. In addition, it is proposed to further raise tariffs on European goods, which are already subject to increased tariffs, which currently range from 15% to 25%. The proposal of the US Trade Representative is open for public discussion until July 26. The new list of goods for which additional US duties are planned includes products from France, Germany, Spain, and the United Kingdom, which were part of the EU at the time of the WTO ruling on the lawsuit. If the US sales representative accepts the new offers, European luxury brands, including Givenchy, LVMH Moet Hennessy Louis Vuitton and Hermes, as well as alcohol producers Remy Cointreau, Pernod Ricard and Diageo, will ...
Source: MilkUA

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