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New! These tariffs are currently suspended for four months. USTR said the suspension of tariffs on took effect March 4 for UK goods and March 11 for EU goods. The UK had previously suspended its retaliatory tariffs on U.S. goods as of Jan. 1, 2021.
Before the four month tariff suspension, the U.S. was imposing additional tariffs of 25 percent on more than 150 products imported from European Union countries, as well as levying an additional tariff on new aircraft from France, Germany, Spain and the United Kingdom. The original tariffs were effective October 18, 2019, and modified in December 2020 (effective January 12, 2021), on August 12, 2020 (effective September 1, 2020) and in February 2020 (effective March 5, 2020). In February 2020. the tariff on new aircraft from France, Germany, Spain and the United Kingdom was increased to 15 percent beginning March 18, 2020. It was previously 10 percent.
Prior to the tariff suspension, the EU was imposing higher tariffs on $4 billion worth of products from the U.S., effective November 10, 2020.
These tariffs come after a World Trade Organization arbitrator determined that the U.S. may impose up to $7.5 billion annually in countermeasures against the EU due to its failure to fully comply with a previous WTO ruling against subsidies it provided to aircraft manufacturer Airbus. Then, on October 13, 2020 the WTO ruled that the EU may impose retaliatory measures against up to $3.99 billion worth of US goods.
Importers with tariffed goods due to this dispute should consider taking proactive measures to mitigate the impact of the tariff increase.
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