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Martini Tax: US Considering $3.1B In New Tariffs On UK, European Goods

Martini Tax: US Considering $3.1B In New Tariffs On UK, European Goods

The United States Trade Representative is weighing new tariffs on $3.1 billion in exports from France, Germany, Spain and the U.K.

The USTR made a disclosure in a filing stating the additional list of products, which contains 30 tariff subheadings with an approximate value of $3.1 billion.

The products named for new tariffs include olives, gin, chocolate and trucks, while the USTR proposed increased tariffs for aircraft and yogurt.

This is not the first time the U.S. has discussed imposing tariffs on European goods. In October 2019, the USTR announced $7.5 billion in tariffs on European products that took effect Oct. 18.

Last year, the World Trade Organization authorized annual tariffs on a range of European goods, including luxury goods and premium spirits, that are imported to the U.S.

On Tuesday, it emerged that President Donald Trump could also reimpose tariffs on aluminum imports from Canada later this week.

Related Links:

Analyst: US Tariffs On European Goods Will Impact Luxury Market

Bloomberg: Trump's Mexican Tariffs Are 'Reckless,' Could Trigger Recession


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