Friday, March 05, 2021

U.S. Suspends Tariffs on Most U.K. Goods To Ease Trade Tensions

The U.S. and U.K. will suspend tariffs for four months “to ease the burden on industry and take a bold, joint step towards resolving the longest running disputes at the World Trade Organization,” the two countries said in a joint statement.

The suspension of U.S. tariffs on U.K. goods, including whisky, will come into force on Mar. 8. The U.S. decision matches the U.K.’s unilateral move to cease applying retaliatory tariffs in January, which was a bid to de-escalate the conflict.

Note:  U.S. tariffs on a basket of European goods, including French wine and cognac, remain in force.

Read more on how the U.S. suspends tariffs on U.K. goods to ease trade tensions, especially between Airbus-Boeing.

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