Fashion

Made-in-UK clothing to be hit by 25 percent US tarrifs


Made-in-UK clothing to be hit by 25 percent US tarrifs

Made-in-UK clothing, including sweaters, pullovers, and cashmere and
wool items, will be subject to 25 percent tariffs when sold in the US
market, effective 18 October.

The World Trade Organisation (WTO) ruled on Wednesday that the US could
impose tariffs on 7.5 billion dollars (6.1 billion pounds) worth of
European goods. It is the largest arbitration award in World Trade
Organization (WTO) history.

UK-made clothing that will be affected by the tariff include women’s
outerwear and swimwear, men’s suits, sweaters, and cashmere and wool items.
Other UK-made products such as aircrafts, whisky and food products will
also be affected by the tariff.

US trade representative Robert Lighthizer said in a statement: “For
years, Europe has been providing massive subsidies to Airbus that have
seriously injured the US aerospace industry and our workers. Finally, after
15 years of litigation, the WTO has confirmed that the United States is
entitled to impose countermeasures in response to the EU’s illegal
subsidies.

“Accordingly, the United States will begin applying WTO-approved tariffs
on certain EU goods beginning October 18. We expect to enter into
negotiations with the European Union aimed at resolving this issue in a way
that will benefit American workers.”

Photo credit: Mentatdgt, Pexels



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.