On Friday, a new round of tariffs took effect; however, they don’t have anything to do with China or North Korea.
These tariffs imposed by the U.S. are on products that many people enjoy.
The Trump administration imposed duties on the product like wine, liquor, and cheese from Europe, and they couldn’t come at a critical time for small retailer’s businesses with the coming holiday season.
It is a time when many retailers make their cash for the year.
No one assumes consumers to abandon Bordeaux as well as other wines from France, Scotch whiskey, or Parmesan cheese or Roquefort when the 25 % tariffs take effect Friday.
Wine retailers, distributors, and importers already anticipate some customers to find reds and whites from countries whose products are not being taxed. And any signs that customers are refusing at higher costs will force retailers to absorb their raised costs.
The tariffs are applied to food and alcoholic beverage products comparable to cheese from Britain, Switzerland, and Italy; olive oil from Spain; Scotch whiskey and French, Spanish, and German wines.
The administration is forcing them in retaliation for the European Union’s subsidies of aircraft maker Airbus, the rival to the U.S. producer of Boeing.
The tariffs might be slapped on goods that arrive within the U.S. from Friday onward. The great news is that the food and beverages to be sold through the holiday season are now within the country and headed to store shelves, so retailers generally will not have to suddenly come up with additional cash to pay for holiday merchandise.
Retailers of products such as wine and cheese do have some benefits over, for example, companies that have to import steel and aluminum from the E.U. That is additionally being taxed. It is not easy to seek out metal and metal products without tariffs; however, food and alcohol purveyors have many options.