europe Markets trade

Whisky, Wine, Cheese Targeted In New US Tariffs. Givenchy, Louis Vuitton Safe, Though

"The mutual imposition of countermeasures would only inflict damage on businesses and citizens on both sides of the Atlantic".

The Trump administration wasted no time announcing the imminent imposition of new tariffs on European goods after getting the green light from the WTO on Wednesday following a favorable ruling in the long-running dispute over Airbus subsidies. The body - which Donald Trump has frequently criticized for being "unfair" to the US - cleared the way for duties on $7.5 billion in product from Europe annually. "For years, Europe has been providing massive subsidies to Airbus that have seriously injured the US aerospace industry and our workers", Bob Lighthizer said in a celebratory statement. "Finally, after 15 years of litigation, the WTO has confirmed that the United States is entitled to impose countermeasures in response to the EU’s illegal subsidies". Read more: Tariff Risk Comes Calling As US Gets WTO Green Light On $7.5 Billion In Sanctions In Plane Fight And so, starting on October 18, everything from French wine to cheese to Irish and Scotch whisky will get more expensive for US consumers. Beginning in just over two weeks, the US will impose 25% levies on those items, as well as a host of other goods including olives, pork, butter and yogurt. The full list is embedded belo
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6 comments on “Whisky, Wine, Cheese Targeted In New US Tariffs. Givenchy, Louis Vuitton Safe, Though

  1. Well Vlad, your boy has furthered your interests again.

  2. joeblow says:

    Sweaters are disproportionately targeted. No wonder the president of Finland didn’t smile.

  3. Anomalous2 says:

    If the U.K. brexits, does tariff come off whisky?

  4. Isn’t it true that the WTO found that while to lesser degree that the US had been unfairly subsidizing Boeing as well? If so, how does that square with Trump slapping tariffs on Europe? Apologors to those of you with bigger brains than mine if this is a “stupid” question. Some of us follow this blog to learn such as I do so I thought I’d ask.

    • Lance Manly says:

      That ruling comes in the spring. The EU does have some prior WTO rulings in the bag so to speak, so they could do some form of retaliation quickly.

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