A new 25 per cent added levy on a swath of European products including Italian cheese, French wine, Scottish Whisky, British Biscuits alongside thousands of other Europe-made food products proposed by the United States following a WTO ruling that legally empowered US to impose tariffs on European goods worth of $7.5 billion, would likely to heighten food prices in the United States ahead of holiday seasons and to cost US jobs as well, as the importers’ best-approach to grapple with an added tariff of such scale while staying competitive at the same time would be involving a slashing of thousands of US jobs, a specialty trade group said later this week.
In point of fact, following announcement of the office of US Trade Representative, Robert Lighthizer, on Wednesday (October 2nd) that included proposed ban on hundreds of EU-made food products, the Speciality Food Association had released a statement on Thursday (October 3rd) saying that the tariffs would decline sales over the holiday seasons and negatively impact jobs of American citizens in more than 14,000 specialty food retailers alongside other 20,000 retailers across the US.
On top of that, adding that impacts of the tariffs would be “dramatic,” the trade group said later this week, “Higher prices will hit Americans in the wallet just as the holiday season is approaching. The cheese/charcuterie board that currently cost you $45 will put you back $60 after tariffs.
The treats you provide your family to celebrate Thanksgiving and the year-end holidays may become out of reach”.