US weighing new tariffs on $3.1 billion of European goods, with products like olives, beer, gin, and planes on the list



Saloni Sardana | Markets Insider

The US is considering slapping tariffs on $3.1 billion of imports from the UK, Spain, Germany and France paving the way for a fresh trade showdown with Europe, just as fears rise that its trade deal with China is in trouble.

notice published by the US Trade Representative on Tuesday evening said it was considering imposing tariffs on products such as aircraft, yoghurt, frozen hams, olives, beer, and gin, as well as many others.

A month long-public comment period will end on July 26, the notice said, at which point it will likely impose the tariffs.

Trade tensions between the US and Europe had previously escalated after the WTO found out that Airbus and Boeing, the world’s two largest plane makers benefitted from billions of dollars of unfair subsidies in different cases dating back to 2004. Airbus is based in Europe, while Boeing is in the US.

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