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 Rochester Regional Joint Board of Workers United filed a formal complaint against Tesla. Earlier this week, a group...
-
Uber is making a comeback from pandemic-era losses. This week, prominent ridesharing company Uber reported their earnings for the...
-
A strong Q4 report and new investments have GM on the right track. This morning, the largest automotive company...
-
The deal is rumored to amount to around $10 billion. This morning, Microsoft announced the latest development in its...
-
Cook’s target pay package will be dropped to $49 million. Tech giant Apple announced today that its CEO, Tim...
-
Even Amazon isn’t immune to the worsening economy. As the global economy remains in the grips of inflation and...
-
Economic woes are affecting the highest echelons of wealth. According to recent statistics released by Forbes, the world’s wealthiest...
-
The bank was fined for “widespread mismanagement” and “illegal activity,” according to the CFPB. Today, financial regulators from the...
-
Store employees are worried layoffs may follow a merger. Recently, two of the largest grocery supermarket chains in the...
-
Despite ongoing concerns, the US job market is moving in the right direction. The United States economy is still...
-
American Airlines will buy 20 supersonic planes from Boom. Recently, commercial air carrier American Airlines and supersonic aircraft manufacturer...
-
Shareholders have accused Musk of enriching himself to the company’s detriment. In the midst of his ongoing revamp of...