Home / Articles / Price of bourbon and Levi's to soar as EU hits back at US

Price of bourbon and Levi's to soar as EU hits back at US

The European Union’s retaliatory tariffs come into force today targeting American products, including whiskey, motorcycles and peanuts.  

Its duties target goods worth $3.3bn (£2.5bn) after the United States imposed tariffs on the bloc’s steel and aluminium.
President Donald Trump is pushing ahead with his campaign pledge to protect American jobs and has described trading relationship with his neighbours and allies as unfair. He has asked his officials to redraw the rules of trade.
The United States has imposed tariffs on Canada, Mexico and £25bn in Chinese goods. China, India and Turkey have already hit back with their own tariffs on US imports.


Video: UK steel boss fears he could lose business


Video: How will tariffs hit the UK?

European Commission President Jean-Claude Juncker, who has said the bloc would target “Harley-Davidson, bourbon and Levi’s jeans”, said on Thursday the US decision “goes against all logic and history.”
He added: “Our response must be clear but measured. We will do what we have to do to rebalance and safeguard.”
Here are just some of the products on the EU list:
:: Bourbon whiskey. The EU imported about €450m worth in 2017
:: Cranberries, cranberry juice, orange juice, sweetcorn and peanut butter

:: Cigarettes, cigars, cheroots (a type of thin cigar) and other types of tobacco
:: Cosmetics. Eye make-up and lipstick. The EU imported more than €280m in 2017
:: Motorbikes and mopeds “with reciprocating internal combustion piston engines” of 500cc capacity
:: Boats, yachts, canoes and rowing boats
:: Jeans, leather footwear, swimwear and underwear
:: Steel products

More from Business

The imposition of tariffs has raised the specter of a full-blown trade war, which could be costly to consumers, jobs and the global economy.
Global stock markets, which have largely ignored Mr Trump’s complaints as “bluster” and a negotiating ploy, are getting more jittery as nations retaliate.

Source: Sky

About Business Ideas UK

My name is Joel Bissitt. I have been an entrepreneur for 24 years and have run many small businesses across various sectors. For the last 10 years I have worked mainly within online media, franchising and small business start-ups.

Check Also

Another 40 Poundworld stores to close

Forty more Poundworld stores are to close later this month, leading to the loss …

Free Franchise Guide
close slider

Free Franchise Guide

Interested in buying a franchise? The our FREE Franchise Guide is a must! The guide contains lots of information to help you decide if franchising is right for you.

Yes, I'd like to join the Franchise UK mailing list.