On Wednesday, October 2, 2019, the United States Trade Representative (USTR) office issued a press release in response to a World Trade Organization (WTO) finding that $7.5 billion in subsidies provided to Airbus by the European Union (EU) have “seriously injured” the United States (U.S.) aerospace industry. As a result of the findings, the U.S. will place WTO-approved tariffs on EU goods.
The USTR released the Final Product List subject to additional tariffs pursuant to Section 301 of the Trade Act of 1974. The list includes a 25% tariff on 150 goods imported from European Union countries, as well as an additional 10% tariff on new aircraft from France, Germany, Spain and the United Kingdom, effective October 18, 2019.
We encourage our clients to review the final product list attached, as it includes products from multiple industries, including aerospace, food, beverage, apparel, machinery, tools, agricultural products, and others.
For more information, please contact your local Noatum Logistics USA (Formerly MIQ Logistics) representative.