US hits back to Europe with additional levies on wine and cognac | NOW



The United States is adjusting a number of tariffs on European products because, according to the Americans, the European Union has not used the correct data when imposing additional tariffs on the US. The American Office of Trade Representative announced this.

This includes aircraft parts from France and Germany and certain types of cognac and still wine from those countries.

The economic superpowers have been banging each other’s ears for years with tariffs as part of a longstanding conflict over alleged subsidies on Airbus (Europe) and Boeing (US) aircraft.

In October 2019, the Americans received permission from the World Trade Organization WTO to impose additional tariffs on 7.5 billion dollars (more than 6 billion euros) in import value from the EU. According to the US, they looked at the figures for the previous year to determine how many products would be affected.

“In September this year, the EU was allowed to impose tariffs on an import value of $ 4 billion. But in doing so, the EU used data from a period when trade had fallen sharply as a result of the COVID-19 outbreak”, say the Americans. This would have created a blurred image.

The new levies would put things “in balance” again.

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