As you may be aware, the UK has been imposing retaliatory tariffs against the US resulting from the World Trade Organisation (WTO) Boeing dispute since 10 November 2020.
The DIT Trade Disputes Team inform you that from 1 January 2021, the UK will be suspending the retaliatory tariffs on US products resulting from the Boeing dispute. This reflects our determination to rapidly de-escalate these issues and achieve a swift and balanced settlement to the benefit of all parties, including the removal of all punitive tariffs.
However, the UK reserves the right to re-apply independent retaliatory tariffs if sufficient progress is not made in negotiations. The DIT Trade Disputes Team will not hesitate to exercise its WTO rights in the interest of protecting British businesses and industry in all parts of the UK.
Rob Oliver, chief executive, CEA (Construction Equipment Association) said, “We are pleased to see UK will suspend the retaliatory tariffs involved in the Boeing dispute. Some construction machine categories are unfairly caught up in this. We are now looking for the incoming Biden administration to do the right thing and sideline the US tariffs.”
The DIT team has published further details about its approach on GOV.UK, which can be found here.
The DIT Trade Disputes Team will be holding a stakeholder teleconference on Thursday 10 Dec at 9:30am to discuss this announcement further. Please see below the details for joining
Direct Event online registration: http://emea.directeventreg.com/registration/9574514 Conference ID: 9574514
Photograph courtesy of https://pixabay.com/users/nickyhardinguk-5424752/