ARLINGTON, VIRGINIA, US — The EU and United States have made steps to end their trade dispute concerning aircraft carrier tariffs with the introduction of a cooperative framework.
According to the US Wheat Associates (USW) and the National Association of Wheat Growers (NAWG), the dispute caused the EU to place retaliatory tariffs on non-durum wheat, which blocked an average of annual imports of more than 538,000 tonnes of mainly US hard red spring and some hard red winter wheat.
The new cooperative framework includes suspending retaliatory tariffs-related to the dispute for five years.
The USW and NAWG commended the Biden administration and Katherine Tai, US Trade Representative (USTR), for resolving the dispute over aircraft subsidies.
“After years of bitter litigation and weeks of intense diplomacy, we have reached a deal on a set of high-level principles that resets US-EU engagement in the large civil aircraft industry,” Tai said. “We are strongest when we work with our friends and allies, and the partnership with European Commission Executive Vice President Valdis Dombrovskis is a demonstration of that principle in action.
“Our goal was clear — to forge a new, cooperative relationship in this sector so that our companies and our workers can compete on a more level playing field. The agreement includes a commitment for concrete, joint collaboration to confront the threat from China’s non-market practices, and it creates a model we can build on for other challenges.”
Source: World Grain
JUN
2021
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