US Slashes Proposed Tariffs on Italian Pasta Imports

The United States has significantly reduced proposed tariffs on Italian pasta imports that the Trump administration had threatened against 13 producers, according to reports from BBC World and BBC Business on Thursday. This move averts a situation where American importers could have faced taxes exceeding the actual value of the pasta, potentially leading to sharp price increases for U.S. consumers.

The Italian foreign ministry announced the reduction, while the U.S. stated that the 13 firms in question had addressed many of its concerns. Previously, the U.S. had accused these companies of selling their products at unfairly low prices and had threatened tariffs of almost 92%. Tariffs are a type of tax paid by a consumer who imports a product.