US leather and livestock high on EU ‘hit list’
Finished leather is among the hundreds of commodities that the European Union is considering slapping with retaliatory tariffs, if the US refuses to eliminate a controversial tax break for American exporters. Last month, the World Trade Organisation ruled the union is entitled to impose tariffs of up to $4 billion - which would be by far the biggest trade retaliation ever undertaken by any government since the WTO was created in 1995.
Heavily weighted toward politically sensitive US states, the list includes finished leather, livestock and meat products, as well as certain categories of clothing and textiles.
The list currently covers product exports worth $10 billion to $15 billion, although it is expected that this will be whittled down after being reviewed by individual governments within the European Union.
