Countermeasures on US Tariffs Could Impact US Exports

The Trump Administration announced yesterday that the US will be implementing tariffs on steel and aluminum imports from Europe. As a countermeasure, the EU is potentially enacting tariffs of its own on US produced products. Many chapters will be affected, including chapter 22, which covers all alcoholic beverages. The complete list of chapters from the CN (Combined Nomenclature—similar to the US HTS code but with an added two digits) that will be impacted includes 20, 22, 33, 48, 56, 59, 62, 63, 64, 66, 69, 70, 71, 72, 73, 76, 84, 85, 87, 89, & 94. These countermeasure tariffs could be enacted as soon as June 20, 2018 and could raise prices for EU consumers on everyday products and potentially affect US exports to the EU.  While we wait to see how this situation will evolve, it is advisable that companies assess their current business dealings to see how this will potentially impact their bottom line. We will continue to keep tabs on this situation, and will provide further developments as available.