"Donald Trump had threatened to impose tariffs as high as 92% on Italian pasta companies, after accusing 13 producers including Barilla, La Molisana and Pastificio Lucio Garofalo of selling their products at unfairly low prices. Italy is estimated to be responsible for $770m-worth (approximately 570m) of annual pasta sales to the US. On Thursday, Italy's government said the US Department of Commerce (DoC) had reviewed the proposed tariffs and reduced them to a range of between 2% and 14%."
"Any additional duties on the Italian pasta makers will come on top of the 15% tariff that Trump has placed on most goods imported from the EU into the US. However, the DoC said that it had not yet made a final decision on the level of duties that will be imposed on the pasta producers. It said that a preliminary analysis published earlier this week showed that Italian pasta makers had addressed many of [the DoC's] questions."
The US government proposed steep tariffs on Italian pasta producers, originally up to 92%, after accusing 13 companies of selling at unfairly low prices. Annual Italian pasta sales to the US are estimated at $770m. The Department of Commerce reviewed the case and recalculated proposed duties, reducing them to a preliminary range between 2% and 14%, to be added on top of an existing 15% tariff on most EU goods. The DoC said a final decision will be announced on 12 March and that a preliminary analysis found producers had addressed many questions. Targeted companies represent roughly 16% of Italian pasta imports to the US.
Read at www.theguardian.com
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