Concerns about slowing the global economy to trigger US tariffs on EU | NHK News

Concerns about slowing the global economy to trigger US tariffs on EU October 18th 5:00

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The US government will launch measures to add up to a 25% tariff on wines and cheeses imported from the EU = European Union on the afternoon of the 18th of Japan time. As the world's economic growth rate is expected to be the lowest in the last 10 years, if the United States becomes in conflict with the EU in addition to trade friction with China, concerns about the global economic slowdown will increase further. That's right.

The United States and the EU have been confronting each other over subsidies for aircraft manufacturers, and the WTO = World Trade Organization is unfair on both sides on the 14th. Did.

In response to this, the United States will launch measures to add a high tariff of up to $ 7.5 billion (800 billion yen in Japanese yen) per year imported from the EU at 1 pm on the 18th of Japan time.

The target is 160 items, and 25% is added to agricultural products such as French wine, British whiskey, and international cheeses, and 10% tariff is added to aircraft.

In response to this, the EU has shown a policy of taking countermeasures.

The IMF = International Monetary Fund has revised its forecast for the world economic growth rate to 3%, down 0.2 percentage points from the forecast three months ago, the lowest in 10 years.

Under these circumstances, if the United States, the world's largest economic power, conflicts with the EU in addition to trade friction with China, it is likely that concerns about the slowdown of the world economy will increase.

Will it affect US retailers and consumers?

It is an additional tariff that puts pressure on the EU, but it also seems to affect US retailers and consumers.

Alcoholic beverage retailers in the heart of Washington, the capital, sell French and Spanish wines subject to customs duties, as well as British whiskeys.

In addition, Spanish and Irish cheeses sold as snacks are also subject to customs duties.

This store will keep the prices of products already purchased, but it will be forced to raise prices for products that add customs duties.

“The outrageous thing has happened. The increase in purchase prices is a competitive disadvantage for any retailer and is obviously bad. It ’s not possible to control in a private store.” I was talking confused.

In addition, a male customer who often visits the store said, “I and my friends often drink wine and whiskey.

A man who visited the store as a couple said, “If the price of European whiskey increases, it may shift to American Bourbon whiskey.”

French wine producers are very concerned

French wine producers are strongly concerned that the US government will add a 25% tariff on imported French wine.

The United States is the largest market for the French wine industry. Last year's export value was more than $ 2 billion (approximately 220 billion yen in Japanese yen), accounting for 18% of the total export value.

“The American market buys the most expensive products, so for the wine farmers, the American market accounts for a large part of its profits even if it is part of the overall sales. That is why tariffs have a more serious impact on the world's most important market than expected. ”