US To Remove Some Boeing-Airbus Retaliatory Tariffs, Says Britain

US To Remove Some Boeing-Airbus Retaliatory Tariffs, Says Britain

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UK said US had agreed to jointly de-escalate the longstanding fight over subsidies for Boeing and Airbus

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.

Disclaimer: This is an automatically aggregated article/story by a computer program and has not been created or edited by Newsdig.in.

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