The services of the US Trade Representative (USTR) indicated, in a notice to be published today in the official newspaper, that “at this time there is no need to review” this trade sanction.Since arriving at the White House, Biden has hinted that he would not modify the additional customs tariffs that were imposed by the government of his predecessor, Donald Trump. But it has already expressed its desire to renew peaceful links with its historic allies, including members of the European Union (EU). The customs duties in question were announced at the end of 2020 and concern French and German products: 25% on non-sparkling wines, must and cognacs and 15% on some aeronautical products.
The rights came into force a few days before the end of Trump’s term, during which US trade relations with the EU deteriorated profoundly.
The rates applied since January are added to those imposed since January 2019 on European products: wine, cheese, olive oil, whiskey and Airbus planes.Airbus and its North American competitor Boeing, and through it the EU and the USA, have been clashing since October 2004 at the World Trade Organization (WTO) over public aid to the two groups, considered illegal, in the biggest conflict trade dealt with by the international trade regulation organization.
At the end of 2019, the U.S. had been allowed to impose duties on about $ 7.5 billion (€ 6.2 billion) of goods and services imported annually, the heaviest sanction imposed by the WTO.
A year later, the WTO authorized the EU to apply taxes to products imported from the USA. Since then, the EU has applied customs duties to $ 4 billion of US exports.
French President Emmanuel Macron suggested during a telephone conversation with Biden on January 24 that the conflict be resolved, CNBC reported on Wednesday.
Source: Jornal de Negócios by www.jornaldenegocios.pt.
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