Tags: Financial Markets | Trump Administration | european union | eu | tariffs | trade | jobs

Report: US May Impose 100 Percent Tariffs on EU Goods

a graphic showing the united states and the european union flags with the words trade war
(AntonLitvintsev/Dreamstime)

By    |   Friday, 13 December 2019 05:22 PM

The Trump administration may slap 100% tariffs on European goods that had been absolved from such duties, including such storied products as Irish and Scotch whiskies and Cognac.

The Office of the United States Trade Representative published a list Thursday of additional European goods now under consideration for the tariffs amid the fallout of its dispute with Airbus, the Dutch-based airline maker, CNBC reports.

Earlier this year, the trade office published multiple lists of European goods, totaling more than $10 billion, that it sought to target in the Airbus rift.

In October, Washington imposed tariffs of 10% on large civil aircraft and 25% on European agricultural goods.

Now the trade office is soliciting advice on whether to raise rates on those goods up to 100%, as well as add to its earlier list with some goods that were excluded from the October list.

The new items could also be taxed at a rate up to 100%.

Among the new products under consideration are European spirits like whiskey and Cognac, while others range from Spanish olive oil and French cheese to German knives and Portuguese fish fillets, CNBC reports.

The U.S. has long contended that the EU's subsidies to Airbus harmed American aircraft maker Boeing and that government efforts to comply with prior World Trade Organization rulings against the assistance were not sufficient enough to level the playing field.

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Including such storied products as Irish and Scotch whiskies and Cognac, the Trump administration may slap 100% tariffs on European goods that had been absolved from such duties.
european union, eu, tariffs, trade, jobs
228
2019-22-13
Friday, 13 December 2019 05:22 PM
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