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Thursday, January 28, 2021

New Tariffs Imposed On Wine, Spirits, And Aircraft Parts

The Trade Representative (USTR) has imposed additional duties on various European origin goods such as aircraft, textiles, hardware, cheeses, alcohol, and other agricultural goods because of the ongoing Large Civil Aircraft (LCA) dispute with the European Union (EU).

The Trade Representative (USTR) has imposed additional duties on various European origin goods such as aircraft, textiles, hardware, cheeses, alcohol, and other agricultural goods because of the ongoing Large Civil Aircraft (LCA) dispute with the European Union (EU).

The new tariffs are set to take effect on Jan. 12 and followed a World Trade Organization (WTO) approval of EU  retaliatory tariffs on $4 billion worth of U.S. imports.

The USTR said that the EU had unfairly calculated tariffs against the United States and demanded compensation and defended that  the additional LCA-dispute duties were being implemented “in a restrained way.”

“In order to not escalate the situation, the United States is adjusting the product coverage by less than the full amount that would be justified utilizing the EU’s chosen time period,” said the USTR.

The tariffs were announced while US and European negotiators are continuing talks to end a 16-year dispute over aid to Europe’s Airbus SE, which is supported by Britain, France, Germany, and Spain’s governments and US backed Boeing Co.

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