SEVENTEEN years ago, the EU and US went engaged in what would become one of the longest-running trade disputes between the two powers. It affected motorcycles and food products, and so much more, although this week, it could be coming to an end.
Today, a US representative has claimed that the tit-for-tat trade war is coming to an end, as both sides look set to come to an agreement.
U.S. Trade Representative Katherine Tai spoke to the press, stating that as long as the terms agreed were abided by, the tariffs would remain suspended.
The move feels like the bell at the final round of a boxing match, one that former POTUS, Donald Trump, was only too happy to wade into. Now though, it seems that sitting President, Joe Biden, is more inclined to work together with his European counterparts.
“Today’s announcement resolves a long-standing trade irritant in the U.S.-EU relationship… We have also with the EU agreed to clear statements on acceptable support for large civil aircraft producers and a cooperative process to address that support between our two parties.”
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European Commission president Ursula von der Leyen said
“This meeting has started with a breakthrough on aircraft. This really opens a new chapter in our relationship because we move from litigation to cooperation on aircraft – after 17 years of dispute.”
The news of the ending of sanctions will be music to American motorcycle manufacturers, with Indian, Harley-Davidson, and more, all affected by huge tariffs should they wish to import their motorcycles into one of the biggest, and arguably most important motorcycle markets on the planet.