On April 12th, a notice was issued by the U.S. Trade Representative in the Federal Register outlining a preliminary list of tariff numbers that would be effected by additional duties for goods originating from the European Union. These tariffs are estimated at approximately $21 billion. The rate of duty has not yet been determined and a public hearing is scheduled for May 15th, 2019. Aircraft parts, dairy products, seafood and textiles highlight the list of products.
If your company ships goods from the European Union into the United States, please take some time to review this list to assess your financial impact.