EU resolution prevents tariffs on US agricultural exports

The United States and the European Union announced a cooperative framework to address large civil aircraft disputes. Within the agreement, the two countries agreed to move away from past confrontation in pursuit of a cooperative future by suspending the tariffs related to this dispute for five years, including those on agricultural products. U.S. Trade Representative Ambassador Katherine Tai says, “We are strongest when we work with our friends and allies, and the partnership with European Commission Executive Vice President Valdis Dombrovskis is a demonstration of that principle in action.” In May 2018, the World Trade Organization found that EU subsidies for Airbus airplanes had adversely affected U.S. airplane manufacturers and that the United States was entitled to retaliate under WTO’s dispute-settlement system. The United States has had $11 billion of retaliatory tariffs in place on a wide range of European products, including dairy, since October 2019. In October 2020, the ...