Your wine and cheese club is about to get a lot more expensive
The Trump administration slapped on some hefty tariffs on Scotch and Irish whiskeys, Parmesan cheese, and French wine. The Trump administration said it would impose tariffs on $7.5 billion worth of European goods, a move that both have been upsetting Americans and could trigger a damaging escalation in transatlantic trade tensions.
The World Trade Organization ruled Wednesday that the U.S. could target goods from EU nations because of a prior failure to comply with a ruling regarding government subsidies for Airbus. In a long-running dispute with the European Union, the U.S. had previously threatened to target pasta and leather handbags but failed.
The extensive list of goods to be targeted also includes salami, yogurt, olives, butter, and sweet biscuits.
Also on the list are UK-made sweaters, pullovers, cashmere items, and wool clothing, as well as EU-produced pork sausage and other pork products, and German coffee. The tariffs mostly apply to imports from France, Germany, Spain, and the United Kingdom -— four of Europe’s five largest economies.
Tariff increases would be 10 percent on large civil aircraft and 25 percent on agricultural and other products. The new tariffs are to take effect as early as Oct. 18.
-
The Office for National Statistics (ONS) released official figures on Wednesday, revealing that the United Kingdom posted a record...
-
As scrutiny intensifies, Fujitsu faces repercussions for its role in the Post Office scandal. The UK government has issued...
-
Tech Billionaire Proposes Renaming Wikipedia to ‘Dickipedia’ in Exchange for Record Donation In a recent social media spectacle, tech...
-
Urgent IMF Deal Needed to Prevent Pakistan’s Economic Collapse, Bloomberg Warns Bloomberg, a renowned US-based financial news service, has...
-
Federal student loan borrowers are in a tough situation as the pause on loan payments, implemented during the pandemic,...
-
Silicon Valley Bank’s Acquisition Fallout: Rising Unemployment and Uncertain Future First Citizens BancShares Inc., the new Silicon Valley Bank...
-
President Joe Biden and House Speaker Kevin McCarthy engaged in crucial negotiations on Monday to address the US government’s...
-
Secure your financial future with the 50/30/20 rule! As the cost of living continues to increase in 2023, managing...
-
Common treatments and medicines are becoming more expensive and harder to get. According to a new report released this...
-
A California appeals court overturned the challenge to Proposition 22. Back in 2020, California voters passed Proposition 22, which...
-
Tesla is looking to spark interest in its most expensive models. In the last several months, prominent electric vehicle...
-
Prices dropped in Venezuela, Indonesia, Ecuador, Thailand, and more. Netflix has recently been feeling a major financial squeeze as...