Imposes Record $7.5 Billion Tariffs on European Goods
BAHRS GLOBAL NEWS, 18 0CT 2019
Staff Reporter : The United States imposed tariffs on a record $7.5-billion worth of European Union goods on Friday, despite threats of retaliation, with Airbus, French wine and Scottish whiskies among the high-profile targets.
The tariffs, which took effect just after midnight in Washington (0401 GMT), came after talks between European officials and US trade representatives failed to win a last-minute reprieve.
The WTO-endorsed onslaught from US President Donald Trump also comes as Washington is mired in a trade war with China and could risk destabilising the global economy further.
In the line of fire are civilian aircraft from Britain, France, Germany and Spain — the countries that formed Airbus — which will now cost 10 per cent more when imported to the US.
But the tariffs also target consumer products such as French wine, which Trump had vowed to attack in recent months. Wine from France, Spain and Germany will now face 25 per cent tariffs.