SAWT BEIRUT INTERNATIONAL

| 26 April 2024, Friday |

EU proposes six-month tariff freeze with United States – Der Spiegel

The European Union has proposed that the EU and the US suspend tariffs on billions of dollars in imports for six months, according to EU trade leader Valdis Dombrovskis, who was quoted in Germany’s Der Spiegel on Saturday.

This will go beyond the four-month suspension decided upon last month and signal Brussels’ desire for a resolution to the 16-year-old conflict over aircraft subsidies.

“We have proposed suspending all mutual tariffs for six months in order to reach a negotiated solution,” Dombrovskis told the news magazine.

“This would create a necessary breathing space for industries and workers on both sides of the Atlantic,” he added.

In March, the two sides agreed on a four-month suspension covering all U.S. tariffs on $7.5 billion of EU imports and all EU duties on $4 billion of U.S. products, which resulted from long-running World Trade Organization cases over subsidies for planemakers Airbus and Boeing.

Dombrovskis also said the EU would closely monitor U.S. President Joe Biden’s “Buy American” laws which provide for U.S. public contracts to be awarded exclusively to American firms.

“Our goal is to push for procurement markets that are as open as possible all over the world,” he told Der Spiegel.

    Source:
  • Reuters