Tuesday, 02 January 2024 12:17 GMT

U.S. Scales Back Proposed Tariffs on Italian Pasta


(MENAFN) The U.S. Commerce Department has withdrawn its earlier plan to impose steep tariffs on pasta from more than a dozen Italian manufacturers, easing measures that could have nearly doubled consumer prices for many well-known brands.

According to Italy’s Foreign Ministry, the department has sharply reduced the proposed duty on 13 Italian pasta producers, cutting the rate from as high as 92% down to just 2.26%. These duties would have been added to the existing 15% tariffs already applied to most imports from the European Union.

President Donald Trump had previously threatened to enforce tariffs of up to 92% on Italian pasta, accusing companies such as Barilla, La Molisana, and Pastificio Lucio Garofalo of selling products at unfairly low prices.

Under the original plan, Italian pasta would have faced a combined tariff of 107% when added to EU levies of at least 15%. The revised measures, however, reduce the total burden to roughly 24%–29%.

Italy exports an estimated $770 million worth of pasta annually to the United States.
The Commerce Department told a news agency that the final tariff decision, expected on March 12, reflects findings from its investigation into alleged underpricing and was adjusted after reviewing additional feedback submitted following its preliminary ruling.

MENAFN04012026000045017167ID1110552957



MENAFN

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.

Search