The European Union is set to impose $4 billion worth of additional tariffs on US product. Announced yesterday 11/9, the tariffs were to take effect today and reflect and additional 15% on US aircraft as well as and additional 25% on US industrial and agricultural products including, but not limited to seafood, cheese, vegetable oils, cocoa powder, chocolate, ketchup, spirits, cotton, tractors, and exercise equipment.
The US had previously imposed tariffs against the EU last year, on products including wine, cheese and single-malt whiskey, as part of a dispute over subsidies for aircraft manufacturers has been going on for 16 years.
We will continue to provide updates on this issue as new information becomes available.