U.S. Scraps Tariff Proposals on Thirteen Italian Pasta Producers
The Commerce Department drastically cut proposed levies on 13 Italian pasta producers, slashing rates from a peak of 92% down to merely 2.26%, according to Thursday statements from Italy's Foreign Ministry. These duties would have compounded the existing 15% tariffs already imposed on most European Union imports.
US President Donald Trump had previously threatened to implement tariffs reaching 92% on Italian pasta products, charging 13 manufacturers—including Barilla, La Molisana, and Pastificio Lucio Garofalo—with engaging in unfairly discounted pricing practices.
Italian pasta shipments faced a staggering combined tariff burden of 107% under the original October proposal of 92% duties, layered atop pre-existing EU levies of at least 15%. However, the revised framework reduces the total rate to approximately 24%-29%.
Italy represents an estimated $770 million in yearly pasta exports to the US market.
The Commerce Department informed media that final tariff determinations, scheduled for announcement on March 12, stem from an investigation into alleged below-market pricing and were reduced following departmental review of supplementary submissions filed after the preliminary determination.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
