The United States will review its policy on import duties for products from the European Union. White House President Jane Psaki said Friday that trade tariffs are high on the agenda.
Earlier, the European Union called on President Joe Biden’s government to immediately raise tariffs on steel and aluminum imports. Work must also be taken to find a solution to the ongoing conflict between economic power blocs over aviation support.
This relates to a 16-year dispute between the United States and the European Union over state aid to the aviation sector. Washington has accused European countries of secretly supporting Airbus with soft loans. The European Union, in turn, believes that Boeing got the help with beneficial tax bases. In response to the dispute, additional trade fees were imposed on both sides. These again got the approval of the World Trade Organization (WTO).
Several European Union member states want to strengthen ties with the United States with Biden’s arrival. This should also put an end to the troubles with fees imposed by former President Donald Trump.