EU/USA: TARIFFS IMPOSED ON US IMPORTS

EU tariffs valued at US$4bn have been slapped on US goods in the trade spat over airline subsidies. The tariffs were approved by the World Trade Organisation last last month in connection with US subsidies for Boeing after attempts at negotiations failed resolve the issue. The US has had $11bn of retaliatory tariffs in place on a wide range of European products, including dairy, since October 2019 as a protest against European subsidies for Airbus. The new EU tariffs were approved by the World Trade Organisation last last month in connection with subsidies for Boeing and include a 25% tax on US cheese and tariffs on concentrated milk protein imports. The value of US dairy exports to the EU was $116m in 2019, down from $145m in 2018, according to the International Dairy Food Association.