Home / Economic Report / Daily Economic Reports / Britain Suspends Tariffs on US Goods to Ease a Trade Dispute

Britain Suspends Tariffs on US Goods to Ease a Trade Dispute

The British Ministry of Commerce said that starting from January 1, Britain will suspend customs duties imposed on US goods in a dispute over aircraft support, describing the move as an attempt to reduce the escalation of a devastating conflict in international trade.

This decision is Britain’s first deviation from the European Union’s trade policy and takes effect on the day that Britain leaves the rules and regulations of the bloc, and indicates the ambition to forge closer relations with the United States.

The billions of dollars in mutual tariffs dispute between the European Union and the United States is linked to a long-running dispute over state support for Airbus and Boeing to manufacture aircraft.

Check Also

Will AI Bubble Burst in 2025?

2024 has been a year of unprecedented growth for Wall Street, fueled by a confluence …