The United States and the European Union recently planned to cut fees on many of their products. This can be seen as a sign that trade tensions between the two continents are easing. As known, some arguing about aircraft subsidies for some time. And the EU is imposing fees on steel and aluminum. It then agreed on Friday to improve relations by lowering the import duties for the two continents.
Reuters quoted the European official Saturday : “The importance of this agreement is that it can deliver positive results elsewhere.”
Under the agreement, the European Union will cut fees on American lobsters by 8-12%. While the United States will halve imports of glassware, ceramics, disposable matches, and ready-to-eat foods. Then To comply with the World Trade Organization (WTO) rules, low and expired fees will apply to all WTO members.
However, The value of the entire deal is approximately € 168 million (the US $ 198 million). But then The European Union imports just about EUR 42 million worth of American lobsters. And so EUR 126 million of other products listed in the United States.
This clear-cut inconsistency is not complete because the United States is only levying half and not doing away with fees.
So, Lobsters were deliberately chosen to decorate Trump, who threatened to impose fees on Europe. And then China on import duties for lobsters in June. Then The agreement has yet to be approved by the government of the European Union and the European Parliament.
Then Washington imposed fees of $ 7.5 billion on European Union products, including Scotch whiskey, French wine, and European cheese. Because the European Union often helps Airbus with unfair amounts of subsidies. That is detrimental to the sale of Boeing’s wide-body aircraft. And so This decision paved the way for the United States to impose fees on European goods. In this case, the WTO is also cooperating with the European Union, making the United States even angrier.
However, little has changed in the controversy since last week. Then the European Commission, which oversees trade policies in the 27 member states of the European Union. So Said the United States did not want to make the situation worse. He also praised America’s determination to resolve the airplane dispute.