Skip to main content

Market Overview

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

Share:
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

 

Related Articles (SPY + VGK)

View Comments and Join the Discussion!

Posted-In: tariffs TradeNews Eurozone Markets Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com