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US to impose 25 per cent tariffs on EU imports

The US is set to impose 25 percent duties on imports from the European Union (EU), including a considerable amount of apparel from the U.K. According to the UK Fashion and Textile Federation (UKFT), the list of products that will face a 25 percent tariff will range from cashmere jumpers to swimwear. This is in addition to the normal duties that will apply. They will be introduced on October 17, 2019 and will apply even if the UK leaves the EU.

For the year to date through July, the US imported $60.94 million in apparel from the UK, an increase of 9.83 percent from the prior-year period, according to the Commerce Department’s Office of Apparel & Textiles (OTEXA). Wool apparel imports rose 13.94 percent to $19.36 million. UK apparels already face among the highest tariffs charged on any product and adding more tariffs will inject more costs into the system which will result in reduced sales, higher prices or lost jobs.

The EU Trade Commissioner Cecila Malmstrom has termed these tariffs “short-sighted and counterproductive and expressed a desire to find a fair settlement.