Alexa US imposes record $7.5 billion tariffs on European goods

Dhaka, Friday   15 November 2019

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US imposes record $7.5 billion tariffs on European goods

 International Desk daily-bangladesh.com

 Published: 04:15 PM, 18 October 2019  

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Cheese, wine, olives, and many other European goods will be subject to a price hike in the US after President Donald Trump made good on his threat to impose tariffs on a record $7.5 billion worth of European products – reports DW.

The United States imposed a range of punitive tariffs on European goods on Friday. 

Washington announced the countermeasures in response to subsidies for Airbus. It is looking to recoup damages of $7.5 billion. World Trade Organization (WTO) mediators had greenlighted the move Monday.

The plan includes duties of 10 percent on Airbus planes and 25 percent for agricultural products like French wine, Italian cheese, and Scottish whiskey. Tariffs will go into effect on Friday midnight.

French Economy Minister Bruno Le Maire criticized the move on Thursday ahead of the decision and said there would be “concrete” repercussions if implemented.

“We, Europeans, will take similar sanctions in a few months, maybe even harsher ones — within the framework of the WTO — to retaliate to these US sanctions,” he said in a radio interview earlier this week.

DailyBangladesh/Adnan