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.
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