vespa wars italy fears sting of trump trade barriers
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Reflecting the tone of most of the media coverage

Vespa wars: Italy fears sting of Trump trade barriers

Egypt Today, egypt today

Egypt Today, egypt today Vespa wars: Italy fears sting of Trump trade barriers

US President Donald Trump is seeing red about what he calls the 'trade cheats
Rome - ArabToday

Italy on Friday voiced alarm over Donald Trump's plans to target imports responsible for the US trade deficit, amid fears products like Vespa scooters could be hit by punitive duties.

"Trump declares war on the Vespa" said a headline in national daily Il Messaggero, reflecting the tone of most of the media coverage on an issue that dominated front pages and topped news bulletins.

The alarm followed reports that scooters and motorcycles feature on a 'blacklist' of 90 European products earmarked for the imposition of 100 percent duties as Trump prepares to launch an offensive against "trade cheats".

The US president was due Friday to issue two executive orders instructing staff to pinpoint goods and countries responsible for the near $50-billion deficit and to recommend action.

Commerce Secretary Wilbur Ross said officials would be looking for evidence of "cheating," inappropriate behaviour, trade deals that have not lived up to their promise, lax enforcement, currency misalignment and troublesome World Trade Organization (WTO) constraints.

The European products are vulnerable to potential measures because of a transatlantic dispute over Europe's ban on beef produced with the aid of hormones that pre-dates Trump coming to power.

Along with mopeds, the symbolic Italian products that could have punitive duties slapped on them reportedly include tomatoes in every form, salami and Parma ham, and San Pellegrino mineral water, now owned by Switzerland's Nestle.

Italian Prime Minister Paolo Gentiloni Friday voiced concern over the shift in US trade policy towards a more protectionist stance.

Gentiloni said a meeting of Group of Seven leaders in Sicily at the end of May had to "take a clear position on an issue about which there can be no ambiguity.

"We have to reiterate our confidence in the open economies and societies on which we have built decades of prosperity," he said.

"We have to restate our backing for free markets and free trade, the most powerful engines of economic growth in history."

Italy's exports to the United States in 2016 were worth 37 billion euros, just over ten percent of the European Union (including Britain) total of 362 billion euros.

However, the products reportedly targeted only make up a small part of the total: for example, the mopeds and motorbikes potentially affected accounted for 182 million euros of exports in 2016, compared with four billion euros for cars.

Although reports of the blacklist hit shares in Vespa manufacturer Piaggio, the company stressed that US sales represented less than five percent of its total turnover, and that it could export from its factories in Vietnam if the duties are imposed.

That would, however, raise fears for jobs at the company's Italian production centres and any ban on food products could be very damaging to producers of upmarket niche products like San Daniele hams.

source: AFP

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

vespa wars italy fears sting of trump trade barriers vespa wars italy fears sting of trump trade barriers



GMT 23:28 2011 Friday ,25 November

Moenchengladbach go top in Germany

GMT 07:59 2017 Saturday ,09 December

Yemeni legitimacy troops managed to achieve advance

GMT 11:10 2016 Saturday ,31 December

Thomas scores career-high 52

GMT 01:16 2012 Saturday ,08 September

Counting down the days until school starts

GMT 03:12 2017 Thursday ,13 April

Resident rescued from Oman house fire

GMT 16:53 2011 Thursday ,12 May

Queen Elizabeth\'s is second-longest reign

GMT 06:54 2018 Sunday ,14 January

Trump language on Africa unacceptable, racist

GMT 15:34 2018 Monday ,08 January

ACWA Power plans three solar projects in Egypt

GMT 15:10 2011 Sunday ,05 June

Eagleburger, US hails top diplomat dead at 80

GMT 13:39 2012 Monday ,19 November

\'Zewail City claims not legitimate\'

GMT 05:32 2012 Wednesday ,13 June

China to open more of Great Wall

GMT 15:04 2017 Wednesday ,18 January

Michel Houellebecq's mother didn't love him

GMT 13:07 2017 Monday ,25 September

CAPRICORN (December22nd-January20th)

GMT 10:58 2017 Tuesday ,31 October

Seven dead as Israel blows up tunnel from Gaza

GMT 10:23 2017 Monday ,13 February

Race for kilowatts empties Bosnian lake

GMT 14:03 2017 Thursday ,08 June

Agricultural lands one national security

GMT 07:53 2014 Thursday ,25 December

Clashes reported in 3 Turkish universities

GMT 11:27 2013 Monday ,05 August

Islamic heritage exhibition? opens in Iraq

GMT 13:42 2012 Tuesday ,03 July

Diversity, Minus the Tokenism

GMT 02:12 2012 Friday ,27 January

Tod’s No_Code Collection

GMT 17:58 2011 Wednesday ,10 August

Ghanaian Barusso attacked by Roma fans
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday