Last week the United States and the European Union issued a joint statement to suspend retaliatory tariffs for four months on goods in connection to the Boeing/Airbus aircraft dispute. However the effective date was vague, just stating “as soon as the internal procedures on both sides are completed.”
Today the notice was published by the US Office of the Trade Representative (USTR) clarifying that the suspension of the 25% retaliatory tariff on EU-US specified products would be effective as of 12:01am today March 11th, 2021 for a period of 4 months.
It is encouraging that these tariffs will be suspended at a time when global freight is in such disruption and costs are increasing in supply chains. However NASA is still working with industry coalitions to lend support and urge both the US and EU to come to an agreement to eliminate not only these retaliatory tariffs linked to the aircraft dispute, but also the EU retaliatory tariffs on American whiskey connected to the steel and aluminum trade policies.
View full publication notice here.