USA – EU Trade War gains speed: leather handbags at risk

USA – EU Trade War gains speed: leather handbags at risk

Leather handbags (made in Italy ones as well, of course) are in the list of European imports that could fall victim to the USA – EU trade war. The Trump administration is allegedly ready to impose these new duties starting from mid-August. The decision is said to be the outcome of a disagreement that has existed for 15 years over the respective parties’ support of Boeing and Airbus.

Trade war

Last October, the World Trade Organization authorized Washington to impose import duties for a value of about 7.5 billion USD. Until now Trump (in picture) only imposed half of the amount allowed. But next month, reports Bloomberg, the WTO will allow the EU to impose duties on some goods made in the USA. The European Union has demanded the value of the duties on goods to be of 11.2 billion USD.

Goods involved

The USA have focused, up till now, clothing and accessories made in Britain. Now the scope is to be increased and will involve Italy as well. The USTR (United States Trade representative) office reports that new tariffs will be placed on European goods for a value of 3.1 billion USD. How? By incrementing by up to 100% the duty already applied on the products in question, which is of 25% now. At the same time the Trump administration is allowed to apply duties (again up to 100%) on a list of goods made by France, Germany, Spain and the UK, as they are Airbus’ partners.

Leather handbags

The USRT’s updated list now includes the voice “Handbags, with or without shoulder strap or without handle, with outer surface of leather, composition or patent leather, nesoi, over $20 ea”. Something that concerning to European manufacturers, Italians included. According to US media, the duties could be imposed starting from August 12th.  If no significant progress is made with regards to the trade agreement.

Read also:

 

 

PREMIUM CONTENT

Choose one of our subscription plans

Do you want to receive our newsletter?
Subscribe now
×
Sei un nuovo utente? Abbonati/Registrati