Airbus

U.S. to implement new EU tariffs on cheese, whiskey, other goods

In this image, two men wearing shirts with the Airbus logo work on assembling an Airbus plane
Technicians work on a fuselage segment in the new structural assembly of the Airbus A320 family at the Airbus plant in Germany. Photo: Christian Charisius/picture alliance via Getty Images

The U.S. says it will implement a 10% tariff on EU aircraft and a 25% tax on "agricultural and other products" starting Oct. 18, following a World Trade Organization's ruling allowing the U.S. to impose up to $7.5 billion in tariffs on European products each year.

The big picture: The United States Trade Representative (USTR) and the EU have each drafted lists of at least $20 billion worth of each other's products to tax in response to this WTO decision. Meanwhile, tariffs from the U.S. trade war with China are estimated to cost U.S. households $2,000 each by next year, per the National Foundation for American Policy.

U.S. threatens to hit EU with $4 billion in additional tariffs

President Donald Trump sits with United States Trade Representative Robert Lighthizer in the Oval Office of the White House in Washington, DC, on January 23, 2018.
Trade Representative Robert Lighthizer and President Trump. Photo: Jim Watson/AFP/Getty Images

The U.S. Trade Representative’s office threatened Monday tariffs on $4 billion worth of EU goods in retaliation for European subsidies on Boeing's rival Airbus.

Details: The UTSR published a list of 89 tariff sub-categories that could be affected, on top of products worth $21 billion the U.S. threatened to hit in April. Under the proposal, goods including olives, pork, cheese and whiskey would be affected.