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News: US proposes tariffs on $11B of EU Imports

on April 15, 2019 No comments

The office of the United States Trade Representative (USTR) have published a list of European goods that will be covered by additional duties. The products total roughly $11 billion. The tariff proposal comes in response to a World Trade Organization (WTO) ruling, which found EU subsidies benefited Airbus and caused Boeing to lose sales and market share, resulting in adverse effects on the United States.

As a result of the harm being caused, the US have requested authority to impose countermeasures worth $11.2 billion per year. The list includes a wide range of goods including helicopters, food items such as seafood and cheese, wine, apparel and minerals.

“The World Trade Organization finds that the European Union subsidies to Airbus has adversely impacted the United States, which will now put Tariffs on $11 Billion of EU products! The EU has taken advantage of the U.S. on trade for many years. It will soon stop!”

Donald. J. Trump

A spokesperson for the European Commission said the EU is ready to retaliate if tariffs on $11 billion worth of goods take effect. The overall effect of tariffs on $11 billion of EU imports — and potential retaliatory tariffs should they arise —  would be relatively small compared to the 10% duties of $250 billion in Chinese imports. It is unclear what percent tariff may be imposed on the EU. 

Tariffs on EU imports would add fuel to the already burning fire of tariffs on Chinese products, slowdowns on the Mexico-United States Border border and the uncertain future of the United States, Mexico, Canada Agreement (USMCA).

Stephen hartnettNews: US proposes tariffs on $11B of EU Imports