The Trump administration has opened another front in its global trade war, slapping the EU with a hefty 25% import duty on a variety of industrial and agricultural products, risking a tit-for-tat response.
The new tariffs will apply to Scotch whisky, French wine and cheese from Italy, among other goods from Germany, the UK and Spain, but exempt certain products, including Italian wine.
The fresh American sanctions will also target sweaters, wool, cashmere and other clothing items, as well as olives. In addition, a 10% duties will be imposed on Airbus “large civil aircraft.” They are set to take effect on October 18.
The move comes after a World Trade Organization (WTO) ruling that found Boeing had lost some $7.5 billion a year due to subsidies handed out by European governments to the company’s arch competitor, Airbus.
The European aircraft manufacturer has filed a similar complaint against the US Boeing, which is still pending a decision, giving Washington a moral high ground for a time being.
RT. com / ABC Flash Point Import Duty News 2019.
The consumer pays the price while the traders and corporations are offered to make more and more profits on the backs of the civilizations?