US and UK agree to suspend retaliatory tariffs

News

US and UK agree to suspend retaliatory tariffs

The Biden administration has suspended some tariffs on the United Kingdom.

The UK was part of the European WTO challenge against U.S. subsidies for Boeing. The US levied tariffs against the EU to punish it for subsidizing Airbus. In retaliation, the EU put WTO-approved tariffs on U.S. commodities including cheese and wine.

The US and UK say their agreed-to four-month pause in retaliatory tariffs will help them reach a balanced settlement and begin seriously addressing challenges to the civil aviation market from non-market economies such as China.