Irish food exports to the US including butter, cheese, liqueurs and pork products, are among a large number of goods from the EU that will be hit with new trade tariffs of 25% as of today, Friday, October 18.
Irish products set to be subject to “additional import duties of 25% ad valorem” include: single-malt Irish whiskey; liqueurs; cheese; pork; yogurt; butter; dairy spreads; fats and oils derived from milk; and a variety of seafood.
The decision, made by the WTO on Wednesday, October 2, “demonstrates that massive EU corporate welfare has cost American aerospace companies hundreds of billions of dollars in lost revenue over the nearly 15 years of litigation”, according to the Office of the US Trade Representative (USTR) in a statement on the matter.
“Finally, after 15 years of litigation, the WTO has confirmed that the US is entitled to impose countermeasures in response to the EU’s illegal subsidies,” USTR Robert Lighthizer said.
We expect to enter into negotiations with the EU aimed at resolving this issue in a way that will benefit American workers.
The award of $7.5 billion annually is by far the largest award in WTO history – nearly twice the largest previous award.