The United States (US) Trade Representative (USTR) issued joint statements with the United Kingdom (UK) on 4 March 2021 and the European Union (EU) on 5 March 2021 announcing a four-month suspension of the US punitive tariffs imposed on certain UK- and EU-origin goods in relation to the ongoing dispute on large civil aircraft subsidies.1 The suspension effective date for the EU has not yet been established, with the USTR indicating the suspension will become effective once internal procedures are completed. The suspension for the UK is effective as of 4 March 2021 and will temporarily relieve punitive tariffs of 15 to 25% levied under Section 301 of the Trade Act of 1974 (Section 301) on certain UK- and EU-origin products.
Source
Latest Posts in "European Union"
- Agenda of the ECJ VAT cases – 4 AG Opinions, 1 Hearings till October 10, 2025
- CJEU Ruling: VAT Applies to Intra-Group Transfer Pricing Adjustments in Arcomet Case
- Non-Payment of Declared VAT Not Considered VAT Fraud, Says Advocate General Kokott
- CJEU Confirms TP Adjustments as VAT-Applicable Services, Requires Supporting Documentation
- CJEU Rules Transfer Pricing Adjustments May Be Subject to VAT for Intragroup Services
