U.S., UK suspend tariffs, pledge to solve aircraft subsidy dispute

05.03.2021 - Korneychuk Evgeniya
U.S., UK suspend tariffs, pledge to solve aircraft subsidy dispute

The United States concurred with the four-month suspension of its retaliatory tariffs imposed on some British products including Scotch whisky over a long-standing aircraft subsidy dispute. Both parties vowed to use the time to solve the issue.

The Trump administration had imposed tariffs on various European Union food, wine, and spirits, including on Scotch whisky. Being a former member of the European block, Britain was dragged to the retaliatory tariff imposition.

The multi-billion-dollar tariff war between the United States, the European Union, and Britain, which left the EU at the end of 2020, relates to a long-standing dispute over state subsidies for planemakers Airbus and Boeing.

The tariff cancellation only applies to UK goods while U.S. tariffs will continue over EU goods, as explained by the U.S. administration official.

Citing a source privy to the matter, negotiations between the United States and the United Kingdom on a separate deal focused on the aircraft subsidies issue had been developing but were briskly ended in January.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?