US to tax goods from Europe – airplanes, agriculture and industrial products.

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Earlier this week, President Trump’s administration announced the imposition of tariffs on European goods covering a wide range of goods, from aircraft, to wine, cheese, olive oil and many more items starting October 18th.

The move comes after the World Trade Organization granted the US permission to tax European exports annually to the amount of $7.5 billion in response a US complaint over subsidies given to the European plane manufacturer Airbus. The $7.5 billion in tariffs is annually and continues until an agreement is reached.

The list of goods subject to tariffs will place a 25% tariff on Parmesan cheese, coffee, mussels, single malt whiskeys and other agricultural goods from Europe in addition to a 10% tariff on European aircraft.

If you have any questions how this may impact your business, contact experienced trade and customs attorney David Hsu by phone/text at 832-896-6288, or by email at attorney.dave@yahoo.com, dh@gjatradelaw.com.

 

 

 

France imposes 3% tax on US technology companies.

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On January 11th, the French Senate and National Assembly passed a 3% tax that will impact American technology firms such as Google and Facebook. In response, the US Trade Representative Robert Lighthizer said the US Office of the Trade Representative will start their own investigation to determine whether the French bill is discriminatory or unreasonable and burdens or restricts US commerce.

An investigation may result in retaliatory tariffs on French goods such as wine, cheese and perfume. In fact, Trump in the past has hinted at placing tariffs on French wine since France places higher tariffs on imports than the US does. CNBC reports France exported $3.6 billion in wine to the US in 2018, making America France’s largest export market.