Europe makes its move with tariffs after a recent World Trade Organization ruling over US illegal subsidies to Boeing. The case allowed the European Union to move forward with tariffs on approximately $4 Billion worth of US goods. The announcement came today that effective November 10th, 2020 the EU will apply a 25% tariff on American shipments of rum, brandy, vodka and vermouth.
The US has already imposed tariffs on imported EU products in its WTO case involving Airbus; 25% tariffs on select wines, spirits and olive oils (among other products) have been in effect since October of last year. With the recent development, industry associations are renewing their calls for both parties to come to a negotiated agreement to end the dispute and the tariffs.