The American Chamber of Commerce to the EU (AmCham EU) warmly welcomes the announcement made on Friday, 5 March by President von der Leyen and President Biden to suspend punitive tariffs imposed in the WTO aircraft subsidies dispute. The four-month grace period will give time to negotiators to find a commonly-agreed permanent solution to the dispute on permissible aircraft subsidies.
EU and US leaders reset the transatlantic relationship
The American Chamber of Commerce to the EU (AmCham EU) warmly welcomes the announcement made on Friday, 5 March by President von der Leyen and President Biden to suspend punitive tariffs imposed in the WTO aircraft subsidies dispute. The four-month grace period will give time to negotiators to find a commonly-agreed permanent solution to the dispute on permissible aircraft subsidies.
This is a positive development in EU-US trade relations, demonstrating the commitment of both sides to forge a strong partnership that will deliver tangible results. The suspension of retaliatory tariffs on both aircraft and non-aircraft goods is a welcome step that will boost transatlantic trade and comes at a time when both economies are beginning to recover from the devastating effects of the pandemic. Both Presidents have also identified avenues for further EU-US cooperation on key areas such as healthcare, climate change and foreign policy.
AmCham EU urges both partners to also consider the removal of tit-for-tat tariffs imposed on steel and aluminium products in the context of the Section 232 of the US Trade Expansion Act of 1962 investigation. AmCham EU continues to advocate for a permanent exemption for the EU from tariffs on imports of steel and aluminium.
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