EU tax rates on American products for sweet potatoes and orange juice

Published Nov 12, 2020

Tridge summary

The European Union has imposed tariffs of up to $ 4 billion on US imports, in response to US subsidies for Boeing. The tariffs, which were approved by the World Trade Organization, went into effect on Tuesday and cover items such as tractors, ketchup, orange juice, and sweet potatoes. Despite this, the EU is hopeful that trade relations with the US may improve under the presidency of Joe Biden. The EU is also open to discussions to abolish the tariffs, which were initiated due to a long-standing dispute over government support for Boeing and European competitor Airbus.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The European Union will impose tariffs of up to $ 4 billion (nearly $ 3.4 billion) on US imports in retaliation for US subsidies for Boeing. Last Monday, however, the EU Commission was hopeful that trade relations between the EU and the US will improve under the administration of newly elected US President Joe Biden. The taxes, approved by the World Trade Organization last month, went into effect Tuesday and cover goods such as tractors, ketchup, orange juice and also sweet potatoes. According to EU officials, representatives are still hoping to settle the battle, with the US setting tariffs on European products last year. A trade official said Joe Biden's election could help restart trade ...

Source: AGF