US, UK suspend tariffs on some goods for 4 months

Thursday, 04. March 2021 13:17

British Secretary of State for International Trade Liz Truss (pictured) announced on Thursday that the United Kingdom and the United States have agreed to suspend tariffs on a range of goods, including the 25% tariff on Scotch whisky, as well as cheese, pork, cashmere and machinery. The tariffs will be suspended for a period of four months.

Truss added that the two sides have agreed on a "joint de-escalation" of the Boeing-Airbus dispute. "This will allow time to focus on negotiating a balanced settlement to the disputes, and begin seriously addressing the challenges posed by new entrants to the civil aviation market from non-market economies, such as China," the UK and US said in a statement. "This will benefit a wide range of industries on both sides of the Atlantic, and allow for focused settlement negotiations to ensure that our aerospace industries can finally see a resolution and focus on COVID recovery and other shared goals."

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