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- UK and US agree to suspend tariffs in Boeing-Airbus dispute for four months - Bloomberg
UK and US agree to suspend tariffs in Boeing-Airbus dispute for four months - Bloomberg
Bloomberg reported that the U.S. agreed to suspend retaliatory tariffs on the UK's products caught up in the longstanding dispute over illegal aid to Boeing and Airbus in a boost for post-Brexit Britain’s trade agenda.
The British government stated that the tariff suspension would last four months to “focus on negotiating a balanced settlement to the disputes”. This means that products like Scotch whisky, biscuits and clotted cream can be imported to the U.S. from Britain without being subject to an additional 25% duty.
The U.S.’s temporary rollback could help resolve part of the World Trade Organization (WTO) dispute over the aid to Boeing and Airbus, which involves the U.S. and the four European countries Germany, France, Spain and the UK and has resulted in WTO-authorized tariffs targeting nearly $12 billion worth of transatlantic trade.
Britain unilaterally removed tariffs on some U.S. goods indefinitely in January in a bid to reduce trade tensions.
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