US Slashes Proposed Tariffs on Italian Pasta Imports
The United States significantly reduced proposed tariffs on Italian pasta imports that the Trump administration had threatened against 13 producers, according to statements released on Thursday by both the Italian Foreign Ministry and the U.S. government. The move averts a situation where American importers could have been taxed at a rate exceeding the pasta's actual value, potentially leading to sharp price increases for U.S. consumers.
The U.S. government stated that the 13 Italian firms in question had addressed many of the concerns previously raised. The U.S. had initially accused these companies of selling their products at unfairly low prices and threatened tariffs of almost 92%. Tariffs are taxes paid by consumers who import a product.
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