French vintners are begging for government aid. Italian farmers are scrambling for new export markets. And American shoppers are about to face supermarket sticker shock on European products.
Some $7.5 billion in U.S. tariffs on European food, wine and other goods took effect Friday, in response to illegal EU subsidies to planemaker Airbus.
The U.S. is also accused of illegal subsidies — to Boeing — and EU Trade Commissioner Cecilia Malmstrom threatened Friday to impose retaliatory tariffs on U.S. products. She urged negotiations instead of a trade war.
French wine exporters group FEVS asked for government aid to compensate for an expected drop in sales. The U.S. is the No. 1 market for French wine exports.
Italy’s main farm lobby forecast a 20% drop in sales of Italian agricultural products including Parmesan and Gorgonzola cheeses and cured meats.
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This story has been corrected to correct million to billion in second paragraph.