Duties: 5-year US/EU truce
More than 12 billion dollars of mutual taxation blocked. Breathe in the agribusiness
US Trade Representative Katherine Tai confirmed that the United States and the European Union reached an agreement on the Boeing-Airbus case to suspend reciprocal duties for five years, in an attempt to allow a definitive solution on the issue of subsidies to the two. aerospace companies. Subsidies will later be re-established if US companies "cannot compete fairly" with those in Europe, Tai said.
The dispute over public aid to Airbus and Boeing by EU states and the federal government has lasted for 17 years. Commission president von der Leyen indicated she was "confident that we will find an agreement today on the Airbus-Boeing dossier in discussions with our American friends". The EU and the US had already decided two months ago to suspend duties for 4 months until 11 July.
The US was authorized by the World Trade Organization to impose tariffs of $ 7.5 billion (€ 6.8 billion) on EU goods and services in October 2019. After a year, the Trade Organization authorizes the EU to tax US exports for 4 billion. Duties related to the steel and aluminum dispute should also be stopped. Breathe in the Italian agri-food industry, strongly affected by duties especially in the wine and cheese sector.
EFA News - European Food Agency