The U.S. imposes new duties on wine from France and Germany from 12 January
The U.S. imposes new duties on wine from France and Germany from 12 January
- 3488
- 2 min.
- 6 connections
- 1 quote
Duties on spirits
US President Donald Trump's administration has announced that it will impose new duties of 25% on wine and spirits from France and Germany, starting on 12 January. This includes the first time duties will be imposed on wine with an alcohol content exceeding 14%, a category not previously covered, according to the Office of the US Trade Representative (USTR).
The US has seen an increase in shipments of these wines, particularly from Spain and France, following the introduction of duties on wine with an alcohol content of 14% or less last year.
Christine LoCascio said: "With what is happening against the backdrop of a pandemic, with restaurants and wineries closing, now is simply not the time to strike a blow to an industry that is already facing economic consequences".
Washington imposed 25 per cent duties on wine from France, Spain, Germany and the UK in October 2019 in response to those countries subsidies to European aircraft manufacturer Airbus SE, claiming they would hit its US rival Boeing Co.
The new duties will also apply to premium categories of cognac priced at $38 a litre and above, as well as some aircraft components from France and Germany.
The USTR said that the extension of duties affects products from France and Germany because these countries provide the largest subsidies, contrary to World Trade Organization (WTO) rules.
The US and the European Union have been in a long-running dispute over what both sides call illegal financial support for Airbus and Boeing by the authorities. The conflict has escalated amid the imposition of duties on consumer goods.
In October 2019, the US imposed duties on wine, cheese and other products from Europe worth a total of $7.5bn. In response, the EU in November announced duties on $4bn worth of goods from the US, including imports of Boeing aircraft as well as spirits and tobacco.
The imposition of the duties has a significant negative impact on the industry. Wine imports from France, for example, fell 54% in the first five months of 2020 compared with a year earlier, and from Germany 42%.
Persons2 and Companies4 in the news
-
TRUMP Donald John
45th President of the United States
-
LOCASCIO Christine
Director of Distilled Spirits Council of the United States (DISCUS)
-
-
-
-
Related news
Last news
Companies rating
NEW YORK NEWS
News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova Development Director
Quotes
AllJennifer Garner Says Paparazzi Knocked Over Children While Chasing Photos of Her and Ben Affleck’s Kids
Aaron Rodgers Reunites With Estranged Family, but Jordan Rodgers Is Missing
Savannah Guthrie Returns to ‘Today’ After Four-Day Absence
Teen Wolf Star Dylan Sprayberry Reveals Scientology Journey After Substance Abuse Battle
Conor McGregor Speaks Out After 69-Second UFC 329 Loss to Max Holloway
