Trade

Trade Explodes Following Death of Trump’s Tariffs

SK Ashby
Written by SK Ashby

American and European trade officials agreed to permanently suspend tariffs on corresponding goods in both markets that were triggered by Trump's trade war with Europe and the result of that suspension is very clear now.

Imports of European cheese increased by more than 140 percent in June alone according to data from the Department of Agriculture.

Imports of European cheeses have nearly doubled from a year ago since tariffs were lifted in March, and according to the latest data, are up 143% in June alone. The tariffs were originally placed in retaliation for subsidies given to Airbus SE, said Nate Donnay, director of dairy market insight at StoneX Group.

To add to the imports, American companies have also been churning out more European-style cheeses domestically. It all spells good news for consumers craving French or Italian specialties.

“It should mean some lower prices on the imported cheese,” Donnay said.

I love a good brie with a slice of pear or apple myself, but I haven't had any in a while. You know why? Because it costs too much.

We all could have been eating more brie if Trump had not imposed tariffs over a 16-year-old dispute over illegal subsidies that effectively ended in 2009.

Sometimes things seem even dumber in hindsight.