The European Union asked the United States to suspend billions of dollars in import duties on each other’s products for a period of six months. This was stated by European Commissioner for Trade Valdes Dombrowskis to the German magazine on Saturday woman. In doing so, Brussels would like to go further than the four-month tax exemption agreed upon last month.
The great powers appear to be finally united in a struggle over illegal government aid to aircraft manufacturers Boeing and Airbus, which has been going on for nearly 17 years. “We have proposed suspending all reciprocal tariffs for a period of six months in order to reach a negotiated solution,” Dombrovskis said. Suspension allows both parties to focus on long-term conflict resolution.
And Washington has previously accused European countries of secretly supporting Airbus with soft loans. The European Union, in turn, felt that Boeing was being helped by beneficial tax rules. In response to the dispute, additional trade fees were imposed on both sides.
In November, Brussels imposed import tariffs on US products estimated at $ 4 billion (€ 3.36 billion). The previous US administration, headed by President Donald Trump, had previously set tariffs on $ 7.5 billion in European products, including cheese, olives and whiskey. Louis Vuitton Moët Hennessy European Luxury Collection (LVMH), known from Moët & Chandon, Veuve Clicquot, and Dom Pérignon, was particularly affected by tariffs.
Business organizations VNO-NCW and MKB-Nederland reported last month that the fees do not have major consequences for the Dutch economy. It is important for the Dutch business community that the major economic powers normalize trade relations.
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