If you live in the US, you’d better stock up on your Italian cheese and French wine, as they will be more expensive in a few weeks.
Today the US Trade Representative released a list (pdf, also shown below) of goods that will be subject to an increased import duty starting Oct. 18. This follows a finding by the World Trade Organization that both Airbus and Boeing benefited from government subsidies. The US was awarded the right to place tariffs worth $7.5 billion as payback, while the EU will learn the value of the tariffs it’s allowed to impose early next year.
In April the Trump administration made a preliminary list of goods (pdf) on which to impose tariffs. It drew from that for the rundown distributed today.
The main target is Airbus, on which a 10% tariff will be imposed. But many items will see a 25% levy, in some cases on top of already-imposed tariffs, such as with particular specialty foods. The list ranges from certain types of knits (that European cashmere is about to feel even more luxurious) to German tweezers and waffles (although not Dutch waffles, fortunately).
But whether it’s for Spanish olives or British biscuits, Americans will soon be paying more. Here is the list of everything that will be affected by the tariffs.
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