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 the BBC. 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 Italian foreign ministry announced Thursday that the proposed tariff rate had been drastically cut back. The U.S. government issued its own statement, indicating that the 13 Italian firms had addressed many of the concerns previously raised by the U.S.

The U.S. had previously accused the companies of selling their products at unfairly low prices and threatened tariffs of almost 92. Tariffs are a type of tax paid by a consumer who imports a product.