The beginning of July, the United States placed tariffs on trading partners around the world. These tariffs range from 10 percent on imported aluminium to 25 percent on steel. As a result, the European Union, Canada, China and Mexico have all implemented retaliatory tariffs on American goods that concentrate on agricultural, food and beverage products. Broken down, what do these tariffs look like?
Thus far, the European Union has placed 25-percent tariffs on $3.4 billion worth of American goods. Many of the E.U. tariffs are for food and beverage items (e.g. denim, orange juice, tobacco, whiskey and peanut butter), most of which are not generally purchased online from U.S. sellers. Because of this, the E.U. tariffs are not expected to have a significant impact on U.S. ecommerce vendors who sell to E.U. countries.
The Canadian government has imposed tariffs on nearly US$12.5 billion of American exports. Over … Read More