Your next KTM or Vespa could soon get a lot more expensive. And it’s all because Europeans don’t want to buy American beef from cattle raised on growth hormones. Makes sense, right? Welcome to the world of international trade disputes.
The U.S. is threatening retaliate for market barriers for U.S. beef by hiking import duties on a whole host of food products from Europe, including hams, sausages, Roquefort cheese and lingonberry jams. And, oh yeah, motorcycles and scooters with engine displacements below 500cc.
If that sounds similar to the more than 50-year-old Chicken Tax that slapped a 25 percent import duty on trucks and vans, it’s because it is. That duty came about over a dispute with Europe over U.S. poultry exports, and has essentially deprived American drivers from being able to buy foreign-made pickups.