US Firm Declares War On Europe As Tariff Showdown Looms
Walk through a US grocery store and you'll find European imports like St Dalfour strawberry spread and Bonne Maman preserves—part of Europe's $200 million annual jam exports to America. Yet American-made jellies remain virtually nonexistent in Europe, with US exports to the bloc totaling less than $300,000 yearly. JM Smucker, a major US producer, blames this imbalance on the EU's 24%-plus import tax on American fruit spreads. In a recent letter to the White House, the company urged the Trump administration to address this disparity as it prepares "reciprocal" tariffs against major trading partners. "The miniscule value of US exports to the European Union is entirely attributable to the high EU tariff," Smucker argued, noting that US jam tariffs max out at just 4.5%. "Reciprocal US tariffs on EU jams and jellies would serve to level the playing field." While […]
