EU tariff cuts could benefit shoemakers
A complicated tariffs dispute between a number of countries within the European Union is currently underway.
Several months ago the Italian government introduced a new proposal that would temporarily scrap import tariffs on various raw materials in a bid to help local manufacturers. Italy, which imports large amounts of raw material from China, Brazil and Russia, claims the cuts could save EU firms EUR2 billion a year.
The EU responded to the proposal by asking other member states for their opinions on the matter. According to reports, it has now compiled a list of 92 products on which tariffs may be removed. Supporters include the Czech Republic, the UK, the Netherlands and Sweden; however, some critics say the move would damage their own manufacturing industries.
Reuters claims the list contains products for the shoemaking, leather, furniture, car making, textile, steel and cosmetics industries. Sheep, cow, pig, horse and other hides to be made into leather are all included in the list.
