The Limited Times

Now you can see non-English news...

Biden is fighting against Trump's legacy: the EU and USA are putting an end to punitive tariffs for the time being


As a symbol of a new start, the EU and the USA will for the time being refrain from levying punitive tariffs. Can a year-long trade dispute finally be resolved?

As a symbol of a new start, the EU and the USA will for the time being refrain from levying punitive tariffs.

Can a year-long trade dispute finally be resolved?

Brussels / Washington - The transatlantic relationship is important to US President Joe Biden.

This became clear not least at the Munich Security Conference this year.

His predecessor Donald Trump saw it very differently.

His slogan "America First", which is not recited like a prayer wheel, still rings in the ears.

Biden's kind words should now also be followed by deeds.

Now something is moving: The EU and the USA have agreed on the temporary suspension of punitive tariffs imposed on each other.

The special taxes introduced because of the dispute over aircraft construction subsidies, as a symbol of a new beginning in relations between the USA and the EU, should initially not be applied for a period of four months, said EU Commission President Ursula von der Leyen * on Friday evening after a phone call with Biden * with.

Biden wants to do it differently than Trump: the USA and EU are for the time being foregoing punitive tariffs

The European Union had imposed punitive tariffs on imports of numerous goods from the USA since last November.

The special charges approved by the World Trade Organization (WTO) for illegal subsidies for the US aircraft manufacturer Boeing were due on food and beverages such as tomato ketchup, nuts, rum and vodka.

The affected products also include video game consoles, tractors, shovel loaders and airplanes.

Previously, WTO arbitrators had already approved punitive tariffs on products from the EU amounting to 7.5 billion dollars in the USA for illegal subsidies for the European aircraft manufacturer Airbus.

The US under Trump then introduced special taxes on products from the EU.

So far, in addition to airplanes, wine from Germany and France *, Parmesan from Italy * and olive oil from Spain * have been affected.

“Decisive breakthrough”: EU long hoped for serious talks with the US

Von der Leyen said of the preliminary agreement with the Americans: "This is excellent news for companies and industry on both sides of the Atlantic and a very positive signal for our economic cooperation in the coming years."

After the announcement on Twitter, EU Trade Commissioner Valdis Dombrovskis spoke of a "decisive breakthrough that will give EU exporters a welcome tailwind and give both sides time and space to resolve this protracted conflict." The EU had been hoping for the past few months The new US president has agreed to serious talks about a settlement of the dispute over subsidies for the aviation industry that has been going on for years.

There had been no rapprochement under his predecessor.

Trump * had also introduced special US tariffs on steel and aluminum imports, to which the EU responded with retaliatory tariffs on US products such as jeans, bourbon whiskey, motorcycles and peanut butter.

There was initially no mention of their suspension.

The trade dispute is annoying for consumers, as special tariffs can lead to price increases for the products concerned.

(dpa / cibo) * is an offer from IPPEN.MEDIA

Source: merkur

All news articles on 2021-03-05

Similar news:

You may like

News/Politics 2021-06-19T12:12:00.285Z

Trends 24h


© Communities 2019 - Privacy