Thursday, March 4, 2021

Johnson pleased with the agreement
United States prohibits punitive duty on British products

Due to unauthorized subsidies for the aircraft manufacturer Airbus, the USA imposed punitive duties on several European products. After Brexit, the United States is now temporarily raising some additional taxes on British goods. But negotiations on a free trade agreement are only going on slowly.

In a dispute over US punitive tariffs on some British products, the government in London may report initial success. The US is raising additional fees on Scottish whiskey, knitwear and cheese and pork products for four months, as announced by the two states in a joint statement. Meanwhile, a permanent solution must be found. Prime Minister Boris Johnson said that many UK companies would benefit from the “great news”.

The United States had increased punitive tariffs on EU products due to illegal subsidies for European aircraft manufacturer Airbus. Great Britain was also a member of the European Union at that time. As a result, whiskey exports to the United States fell by 30 percent.

At the beginning of the year, Great Britain removed the punitive tariffs imposed by the European Union on several American products as a peace proposal. The country emphasizes that thanks to a full Brexit, it will be able to terminate trade contracts again. Talks about a free trade agreement with the United States faltered.