Quantcast
Connect with us

Trump’s new tariff proposal targeting Europe could hit your grocery bill hard — and help his own family

Published

on

American consumers could soon be forced to pay double for some of the most desirable European products if the Trump administration gets its way.

The Trump administration has proposed a tariff of up to 100 percent on $25 billion of European products, including cheese, wine, meats, olive oil and pasta, CNN reports.

The newest front of Trump’s trade war is related to a years-long dispute between the U.S. and the European Union over subsidies for airplane manufacturers. In 2004, the EU accused the U.S. of unfairly giving $19 billion in subsidies to Boeing. The U.S. responded by filing its own complaint to the World Trade Organization, accusing the EU of giving unfair subsidies to European manufacturer Airbus. Since taking office, Trump has proposed new tariffs on Europe in the dispute. The WTO is expected to rule on the scope of allowable tariffs this month.

ADVERTISEMENT

Retailers say that the tariffs would result in soaring prices that could cripple thousands of American businesses. Roughly 14,000 specialty food retailers and 20,000 other food retailers could be hit by the tariff, according to the Specialty Food Association.

Food importers would be hit hard too. Tom Gellert, whose company owns five food importers, told CNN that businesses would likely be forced to stop selling European products affected by the tariffs.

“100 percent duties would be really devastating,” he said. “We’re going to make these items so expensive and so unmarketable we won’t import them anymore.”

Lou Di Palo, the owner of Di Palo’s specialty shop in New York’s Little Italy, told the outlet that 95 percent of the products in his 109-year-old store would be affected.

“Products that we sell are already kind of expensive,” he explained. “For instance, Parmigiano Reggiano and Grana Padano. These are cheeses that sell between $15 and $20 a pound. Could I get $30 and $40 a pound for this cheese? It’s going to be very difficult.”

ADVERTISEMENT

The tariff could also affect the supply of common staples like olive oil. Trump has claimed that the goal of his tariffs, aside being leverage in trade negotiations, is to bring manufacturing of products back to the United States. But a bipartisan group of lawmakers has asked the administration to reconsider imposing a tariff on olive oil, arguing that the duty would cause “significant domestic harm” because there is no “sufficient alternative supply of olive oil.”

“Large price increases can push many consumers and food manufacturers to choose food oils that lack the health qualities of olive oil, as well as increase the incentive for unscrupulous actors to sell misbranded olive oil,” they wrote.

Production of other products like cheese and wine could move to the United States, but Di Palo noted that the milk and grapes used in the products are region-specific and have profiles that give them their unique flavors and textures.

ADVERTISEMENT

“The authentic wines of Italy, the authentic cheeses, oil, salumi. This is very important to us,” he told CNN.

One company that could benefit from the tariff is the Trump Winery in Charlottesville, Virginia. The winery is owned by Eric Trump, the president’s son. Some of its wines have been described as “Welch’s grape jelly with alcohol.”

ADVERTISEMENT

Along with European food products, Trump has also threatened to impose tariffs on European cars. He has already imposed steep tariffs on steel and aluminum imports, washing machines and solar panels, as well of hundreds of billions of dollars worth of products from China, Europe, Canada and Mexico. Trump has frequently complained that the U.S. has a trade deficit with the rest of the world, but those deficits have only grown since he took office. The trade deficit with China, the European Union and Mexico has grown by more than 23 percent and the trade deficit with the rest of the world has increased by nearly 25 percent.

Meanwhile, Americans are paying for the increased cost of goods on countless products, as well as the bailout of farmers whose businesses have been ravaged by the trade war.

A new report from the National Foundation for American Policy showed that by the end of 2019, Trump’s tariffs “will have cost the average household $1,315 over a two-year period.”

ADVERTISEMENT

“When adding the tariffs in effect and the tariffs set to go into effect by the end of 2019, the costs of the tariffs to consumers will be $259.2 billion,” the report said. “That is, the tariffs will cost the average household $2,031 per year, and will be recurring so long as the tariffs stay in effect.”


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Andrew Cuomo threatens to bail on CNN interview when his brother shows vintage photo of governor in bellbottoms

Published

on

Gov. Andrew Cuomo (D-NY) appeared to feign anger during a CNN interview Wednesday in which his brother, Christopher Cuomo, showed a vintage photo of their family with the elder brother clad in bellbottoms, a rhinestone belt and an unfortunate attempt at an afro.

The younger Cuomo is still suffering from the effects of coronavirus, appearing redfaced and wiping his brow. However, his brother noted that he seemed more animated than he has in days.

"Now I've seen you referred to a little bit recently as the 'Love Gov' and I'm wondering if that's making you a little soft on the president, that you don't want to really criticize him, because you need him and now's not a time for fighting," said the younger Cuomo. "But don't you have to balance that with calling him out if he's doing things that you don't think are great for the people of your state to be hearing and experiencing? Love Gov?"

Continue Reading

Breaking Banner

Fox News hosts are going back to downplaying threat from coronavirus: report

Published

on

Major Fox News personalities like Sean Hannity spent weeks assuring viewers that the novel coronavirus wasn't a serious threat. In recent weeks, however, they have shifted to a different narrative, acknowledging that the virus is dangerous but giving President Donald Trump credit for taking action and criticizing Democrats' lack of action — even though many Democrats, in fact, warned the pubic first.

But according to The Daily Beast, even as there is no clear end to the crisis in sight, and even as the U.S. crosses 13,000 deaths, many Fox News hosts are going back to downplaying the virus, either telling viewers it wasn't as bad as advertised and urging the president to end public safety measures against it.

Continue Reading
 

Breaking Banner

The dangers of Trump TV: MSNBC host hammers Fox News as ‘genuine public health threat’ amid pandemic

Published

on

Tuesday night, Fox News decided that all anyone needed to do is to pump Americans with a Malaria drug and send them back to work to save President Donald Trump's economy.

Speaking Wednesday night, MSNBC host Chris Hayes bashed the conservative network for downplaying the seriousness of coronavirus, saying that they are "a genuine public health threat."

While Trump has advisers like Dr. Anthony Fauci, he also has the unofficial advisers he sees on Fox News.

They "are coalescing around the idea the whole thing is just overblown and we need to pump everyone full of the malaria drug and get them back to work. This is what you heard if you watch trump tv just last night," Hayes said. He then played clips illustrating exactly that, with hosts ranting and raving about the virus not being as serious as the flu.

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image