NEWS
8 gennaio 2021
United States imposes new tariffs on French and German aircraft parts

United States announced in late December, through its Trade Representative, that additional tariffs would be imposed on French and German products as a result of the long-running trade battle over subsidies to aircraft manufacturers Airbus and Boeing.

The EU was authorized in 2020 by the World Trade Organization (WTO) to impose additional tariffs on American products, a move deemed unfair by the Trump administration. The latter claims that the chosen method of calculation is penalizing, as it is based on trade data from a period of global crisis due to the Covid-19 outbreak, which therefore led to exaggerated customs duties being levied on US products. As a result, the United States changed the reference period to match the one used by the European Union.

The products that will be added to the list of taxed products (as of 2019) are aircraft manufacturing parts from France and Germany, some kinds of non-sparkling wines from France and Germany, and some cognac and other French and German alcoholic spirits.

Washington has exploited the opportunity to impose $7.5 billion in tariffs on European countries: it imposed 25% tariffs on iconic EU products such as wine, cheese and olive oil, as well as putting a 15% tariff on Airbus aircrafts in March.

For more information you may contact Silvia Quintini at the following email: s.quintini@madv.eu

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