UK Says Will Drop Tariffs on US Goods to Ease Aircraft Trade Dispute

12/09/2020

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Aljazeera

The United Kingdom will suspend retaliatory tariffs imposed on US goods as part of a dispute over aircraft subsidies from January 1, the trade department said, describing the move as an attempt to de-escalate a damaging international trade conflict.

The decision marks the start of the UK’s divergence from European Union trade policy, coming into effect on the day its exit from the bloc’s rules and regulations is complete and signals an ambition to forge closer ties with the United States.

The multibillion-dollar tit-for-tat tariff battle between the US and the EU relates to a long-running dispute over state subsidies for aircraft manufacturers Airbus and Boeing.

“Ultimately, we want to de-escalate the conflict and come to a negotiated settlement so we can deepen our trading relationship with the US and draw a line under all this,” trade minister Liz Truss said in a statement.

No comment was immediately available from the US government or the EU.

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