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Monday, April 19, 2021

European Union Hits the United States with Retaliatory Tariffs

The European Union announced on Monday afternoon it will impose tariffs on up to $4 billion of United States’ imports in retaliation for the American government’s subsidies for Boeing, pointing out that it was hopeful for an improvement in trade ties under President-elect Joe Biden.

The European Union announced on Monday afternoon it will impose tariffs on up to $4 billion of United States’ imports in retaliation for the American government’s subsidies for Boeing, pointing out that it was hopeful for an improvement in trade ties under President-elect Joe Biden.

“We have made clear at every stage that we want to settle this long-running issue,” European Union Trade Commissioner Valdis Dombrovskis told reporters during a press conference after an online meeting of European trade ministers.

“Regrettably, despite our best efforts (and) due to lack of progress on the U.S. side, we can confirm that the European Union will later today exercise our rights and impose counter-measures awarded to us by the World Trade Organization in respect to Boeing,” he added.

The move, given the green light by the World Trade Organization in October, is the latest in a 16-year US-EU dispute over civil aviation subsidies.

American tariffs on $7.5 billion of EU products after a parallel World Trade Organization’s case against Airbus have been in place for over a year.

 

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