On Thursday evening, October 17th, it was confirmed that the tariffs on $7.5 billion of European goods will take effect today, October 18th. On October 2, 2019 the USTR published a list of the E.U. products that will be subject to the additional duties. Air crafts produced in the EU will now have an additional 10% tariff. Other products ranging from whisky to cheese will have an additional 25% tariff.
These tariffs came as a response to the preferential treatment by the EU for aircraft maker Airbus SA. The application of these additional tariffs will depend on the tariff provision and country of origin.
This topic is evolving, and we will keep close watch on this. If you have any questions regarding how this can affect your business, please contact us.