The US and the UK temporarily cancel duties in Airbus and Boeing case

The British side refused to apply duties to the United States from January 1, 2021, the United States from March 4 “cancels retaliatory tariffs related to the dispute over Airbus for four months.”

The United States and the United Kingdom will temporarily stop applying trade duties previously imposed by the two countries against each other in connection with the Airbus and Boeing case. This is stated in a joint statement of the two countries, issued on Thursday by the US Trade Representative office.

“The United Kingdom and the United States commit to lifting tariffs for four months to reduce the burden on the [aerospace] industry and to take a bold joint step towards resolving one of the longest-running disputes in the World Trade Organization,” the document says. It emphasizes that the British side refused to apply duties to the United States from January 1, 2021-immediately after the end of the transition period after “Brexit.’ From March 4, “the US cancels retaliatory tariffs related to the Airbus dispute for four months.” During this period, the parties should agree to resolve the remaining differences between them, focusing on “the challenges posed by the emergence of new players in the civil aviation market from countries with non-market economies, such as China.”

Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor
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