tariff was imposed in October 2019.A short fourth month suspension of tariffs was secured by Trade Secretary Liz Truss in March but following the resolution of a trans-Atlantic row over subsidies to aircraft manufacturing giants Boeing and Airbus the US tariffs are set to be suspended for five years.US Trade Representative Katherine Tai said the US and EU have come to terms on a five-year agreement to suspend the tariffs at the centre of the dispute.She said they could be reimplemented if the US companies are not able to “compete fairly” with those in Europe.Tai said: “Instead of fighting with one of our closest allies, we are finally coming together against a common threat.”The deal brings a fresh dose of international goodwill for US.
Read more on dailyrecord.co.uk