President Trump says the tariffs will take effect on Aug. 1 unless a new trade deal is reached.
CHARLOTTE, N.C. — If you buy imported wine, drive a European car or just like cheese on your pasta, you could soon be paying more.
Prices for some of your favorite items may spike soon … and fast.
President Trump just announced new 30% tariffs on European Union goods. That means many items from Europe will get more expensive in the U.S.
We’re talking about wine, cheese, pasta, cars — and even some medicines. Italy’s wine industry says the tariff could block 80% of Italian wine exports.
Germany, the E.U.’s top exporter to the U.S., says jobs and investments are at risk. And trade groups are warning this could raise costs for American consumers and businesses.
President Trump says the tariffs will take effect on Aug. 1 unless a new trade deal is reached. The E.U. says the tariffs are “absolutely unacceptable,” but for now, it’s holding off on retaliation.
Still, Europe has $100 billion in tariffs ready to go if needed, aimed at U.S. goods like soybeans and bourbon.
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