In a move aimed at improving strained relations between the UK and the US, the UK has abandoned EU tariffs on Boeing.
The tariffs will be suspended in the UK from Jan. 1, when the post-Brexit transition period ends. It may be recalled that in November, the EU had hit $4bn of US goods with duties of up to 25% in retaliation for illegal state aid given to Boeing.
“As an independent trading nation once again, we finally have the ability to shape these tariffs,” UK International Trade Secretary Liz Truss said. “Ultimately, we want to de-escalate the conflict and come to a negotiated settlement so we can deepen our trading relationship with the US and draw a line under all this.”
The move to do away with tariffs comes just weeks before president-elect, Joe Biden, takes office in the White House in January. The UK hopes that the decision would help it secure a quick post-Brexit trade deal with the US. The country’s move is a departure from EU’s stand, which imposed the tariffs after the World Trade Organization (WTO) ruled that the US had given illegal state aid to Boeing.
The WTO had previously ruled that EU governments, including the UK, France and Germany, had provided illegal state aid to Airbus. This had triggered an angry response from the Trump administration, with the US slapping 25% tariffs on UK products.
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