Due to the Airbus-Boeing dispute, tariffs were suspended for four months. Telephone conversation between the leaders of the two countries: also reached an agreement on the virus, recovery, and climate.Coordination with Sino-Russian relations
Brussels- In an interview with US President Joe Biden today, European Commission President Ursula von der Lein agreed to suspend all countervailing duties related to the Airbus-Boeing double trade dispute in the next four months, with a view to Find a solution. . This is von der Leyen’s own press release on Twitter, which emphasizes that the agreement marks a “new beginning” for transatlantic relations.
“I am very happy to have a conversation with President Biden this afternoon. This is the first of many exchanges and the beginning of good personal cooperation. As a symbol of this new beginning, President Biden and I have decided to suspend our stay at Airbus. -All responsibilities that Boeing assumed in disputes over aviation and non-aircraft products were “Von Delane” for the first four months. Said on the note.
“Both-the chairman of the committee continues-we are committed to resolving aircraft disputes based on the work of the trade representative. von der Leyen concluded that this is good news for companies and industries on both sides of the Atlantic, and for our economy in the next few years. Cooperation is a very positive signal.
As reported by the chairman of the committee, the interview also talked about the fight against the Covid-19 pandemic and vaccine production, the fight against climate change, the transatlantic technology alliance and, of course, foreign policy.
The European Commission emphasized that the suspension of tariffs is an important impetus for EU exporters, as it allows the United States to impose additional tariffs on EU imports of US$7.5 billion. Similarly, the European Union will suspend its authorized tariffs on approximately US$4 billion of products imported from the United States.
Valdis Dombrovskis, Executive Vice Chairman of the Committee for Trade, emphasized, “This is an important step forward”, “This marks the biggest and most important thing between us and us. A turning point in the relationship of economic partnership. When the pandemic jeopardizes our workers and the economy, removing these tariffs is beneficial to both parties. The suspension will help restore confidence and provide us with room for a complete and lasting negotiated solution » In addition, Dombrowskis added, “A positive US-European trade relationship is important not only for both parties, but also for overall global trade.”
Once the internal procedures of both parties are completed, the suspension will take effect and the validity period will be four months.
This countervailing duty was made after two decisions made by the Appellate Body of the World Trade Organization (WTO): the first was the 2018 ruling on non-compliance with the organization’s ruling on EU subsidies for Airbus; the second It was in March 2019, involving the United States not complying with WTO rules on Boeing subsidies.
In October 2019, the WTO authorized the United States to take countermeasures against European exports worth 7.5 billion U.S. dollars, and the United States imposed these tariffs on October 18, 2019. Then, in October 2020, the WTO authorized the EU to take similar measures. The US’s US$4 billion export to Europe’s countermeasures.
After seeking a negotiated agreement with the Trump administration but unsuccessful, the EU may avoid imposing these tariffs. The EU decided to implement its countermeasures on November 9, 2020. In addition, the United States changed the reference period for calculating fines on December 31, 2020, which greatly increased the scope of EU products affected by tariffs.
(With source Askanews)