EU Tariffs: Alabama businesses to pay $44 million
- June 20th, 2018
- in Uncategorized
Based on Alabama’s exports to the European Union in 2017, the European Union’s retaliatory tariffs will cost Alabama businesses about $44 million. The bulk of the tariffs (91%) are targeted at flat-rolled steel products; small businesses will likely be impacted by the tariffs levied on the remaining categories, including motorcycles, door & window frames, and fencing.
The EU will begin charging import duties of 25 percent on a range of U.S. products on Friday, June 22, 2018, in response to U.S tariffs imposed on EU steel and aluminum early this month. The European Commission formally adopted a law allowing duties on 2.8 billion euros ($3.2 billion) worth of U.S. goods, including steel and aluminum products, farm products (including sweetcorn and peanuts), bourbon, jeans, and motorcycles.
Download PDF: Impact of 20June EU Tariffs on AL