- Analytics
- News and Tools
- Market News
- U.S. weighs new tariffs on $3.1 billion of exports from France, Germany, Spain and UK - Bloomberg reports, citing USTR's notice
U.S. weighs new tariffs on $3.1 billion of exports from France, Germany, Spain and UK - Bloomberg reports, citing USTR's notice
According to Bloomberg, the notice published by the U.S. Trade Representative (USTR) says that U.S. wants to impose new tariffs on European exports like olives, beer, gin and trucks, while increasing duties on products including aircrafts, cheese and yogurt.
The U.S. is also looking to target European luxury goods and this it could hammer European luxury brands like Givenchy and Hermes, which produce leather goods, and Remy Cointreau and Pernod Ricard, which make cognac and champagne. LVMH Moet Hennessy Louis Vuitton would be particularly vulnerable because it produces a wide array of these products.
The notice also makes mention to the 15-year-old World Trade Organization (WTO) aircraft subsidy fight between the U.S. and the EU.
Bloomberg notes that the latest USTR notice is a reminder that the U.S.’s tariff targets may shift or be subject to higher levies - a strategy that spreads the sanctions pain across an array of industries, creating uncertainty for businesses and headaches for exporters and importers alike.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
