/ world in the present day information/ The ultimate stage of US President Donald Trump’s “tariff struggle” with the EU could possibly be a rise in tariffs on essentially the most prestigious manufacturers in Europe, together with whiskey, wine, champagne, baggage and males’s fits, media reviews.
On Friday, the WTO, as anticipated, declared the legality of the imposition of US tariffs on numerous European exports in response to the EU’s unlawful assist to Airbus. After WTO arbitrators launch the report, the US will have the ability to impose new tariffs on $5 billion to $7 billion price of products yearly. Trump has threatened to impose tariffs on a complete of $11 billion price of products.
It’s assumed that the tariffs could possibly be utilized to items from essentially the most acknowledged European manufacturers.
Specifically, the French firm LVMH, which brings collectively manufacturers reminiscent of Dom Perignon, Moet & Chandon, Hennessy, Givenchy, Kenzo and Louis Vuitton, is especially weak. Based on Bloomberg, in 2018, US customers purchased 11.2 billion euros price of LVMH items.
The brand new tariffs will improve prices that might be handed on to American customers, stated Remy Cointreau SA, which makes Remy Martin, Cointreau, Passoa and Mount Homosexual cognacs.
In July, the US threatened France with a tax response in opposition to US digital giants that confronted the necessity to pay taxes in EU international locations.
Translation: V.Sergeev
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