US To Remove Some Boeing-Airbus Retaliatory Tariffs, Says Britain
Britain said Thursday the United States had agreed to remove retaliatory tariffs on various UK goods and jointly de-escalate the longstanding fight over subsidies for Boeing and Airbus.
International Trade Secretary Liz Truss see the deal would see the removal of a 25 percent surcharge on Scotch whisky as well as tariffs on cashmere, machinery and other products.
"I've agreed with the US to remove retaliatory tariffs on a range of UK goods," Truss said on Twitter, adding the agreement included "a joint de-escalation of the Boeing-Airbus dispute".
The 16-year-old trans-Atlantic conflict over government aid to the competing aircraft manufacturers has seen Brussels and Washington each impose punitive tariffs.
They included US duties on a record $7.5 billion (6.2 billion euros) in European goods authorised by the World Trade Organization in 2019.
The tariffs on Scotch whisky and a host of other items since October 2019 have hit the once lucrative market hard.