European delicacies may become unavailable in US due to Trump's tariffs
French champagne and Italian Parmesan may become unavailable to most American consumers if 25 percent tariffs announced by Donald Trump will come into force, TASS reports with reference to The Financial Times
As noted, European manufacturers believe that tariffs on these products will force Americans to abandon them in favour of cheaper local counterparts. The consequences in terms of sales volume can be very tangible.
According to media reports, the United States remains the largest export market for French wines and other alcoholic beverages. For example, Alexandre Chartogne-Taillet, the owner of Chartogne-Taillet that exports 30 percent of its products to the United States, said that manufacturers would have to look for other markets.
The Coldiretti association of Italian agricultural producers estimates that American consumers will have to overpay another 2bn Euros for Italian delicacies, including wine, cheese, olive oil and prosciutto, if the US President imposes tariffs.
On March 4th, the US Administration imposed customs duties of 25 percent on almost all imports from Canada and Mexico, and also raised tariffs on goods from China from 10 to 20 percent. On March 6th, Donald Trump signed executive orders delaying the introduction of 25 percent duties on goods from Canada and Mexico which are covered by the trilateral trade agreement until April 2nd.
