News: World

EU/USA: CHEESE HIT BY NEW TARIFFS

From tomorrow, the US will apply tariffs of 25% to most EU dairy products in retaliation against EU Airbus subsidies. Cheese is the largest EU dairy export to the US and under the new tariff schedule, 75% of EU cheese sent to the US will be subject to tariffs. Italy is the largest exporter of cheese to the US, accounting for nearly 20% of all cheese imported by the US. Almost all Italian cheese exported to the US will be subject to the new duties. France is also a big exporter of cheese to the US, with 24,000t exported last year. France has been omitted from a selection of cheese tariffs, including Cheddar, Emmental and blue-veined cheeses although tariffs will apply to 96% of French cheese exports to the US. Significant volumes of butter are exported to the US with Ireland accounting for nearly half of all US butter imports. Under the new tariff schedule, all of Ireland’s butter exports will be subject to the new tariffs. All UK butter and cheese exports to the US are covered by the new tariffs.