|
PRIVILEGED AND CONFIDENTIAL: ATTORNEY-CLIENT COMMUNICATIONS: CTDA MEMBER UPDATE ON TRADE ISSUES RELEVANT TO THE CERAMIC TILE INDUSTRY
TRUMP ANNOUNCES 30 PERCENT TARIFFS ON PRODUCTS FROM THE EU, INCLUDING SPAIN AND ITALY
President Trump said this weekend that he will impose an additional 30 percent ad valorem tariff on most imported products from the EU and Mexico starting August 1st onward. This came as a shock to the EU trade negotiators who believed they were close to a deal leaving the additional US tariff rates on EU products at the current rate of 10 percent.
Publicly, the EU responded cautiously and has not announced retaliatory tariff measures on US products. Instead, the EU is currently taking the position that, should there be no progress in resolving this issue, it will respond with tariff countermeasures against the US by early August.
President Trump had earlier stated that he would double the EU tariff on Spain due to the latter's refusal to increase NATO defense spending to the targets he suggested. His weekend announcement did not cite any special tariff cutout for goods imported into the US from Spain.
Please keep aware that as of now, the 30 percent US tariffs will go into effect for EU origin products entered with US Customs on or after August 1st, or 17 days from now.
If you have any questions, please contact CTDA Legal Counsel Robin Grover at (202) 302-1653. We will promptly alert you to any further developments regarding this and other trade issues.
|