US tariffs could see 20% drop in Italian farm sales

(18 Oct 2019) Italy's main farm lobby is forecasting a 20% drop in sales of Italian agricultural products targeted by new US tariffs.

The group, Coldiretti, says the 25% tariffs that take effect on Friday will hurt sales in the US of Italian Parmesan and Gorgonzola cheeses, as well as cured meats, citrus fruit and liquors.

The Italian products on the tariff list represent half a billion euros (550 million US dollars) in export value.

Coldiretti urged the Italian government to launch promotional programmes for Italian agricultural products in other export markets and offer aid to producers.

Coldiretti is also planning to improve and make more cost-effective the logistics of the export affected goods in order to compensate the increased tariffs and avoid a replacement by products similar to the Italian famous brands such as the Parmesan.

US President Donald Trump's decision to put new import taxes on EU goods worth 7.5 billion US dollars opened a new chapter in the global trade wars that are heightening fears of a global recession.

The US got the legal go-ahead at the beginning of October from the World Trade Organisation in a case involving illegal EU subsidies for the plane maker Airbus.

The latest tariffs target large aircraft but also many typical European products such as olives, whiskey, wine, cheese and yogurt.

They will take effect on 18 October and amount to a 10% tax on EU aircraft and steep 25% rate on everything else.



Find out more about AP Archive:

Twitter:

Facebook:

Google+:

Tumblr:

Instagram:





You can license this story through AP Archive:

AP Archive,4235488,604aa98cd5034272b820ef97bed8d492,Italy US Tariffs,Donald Trump,Italy,Western Europe,Rome,Business,Government and politics,