In Biden’s wake: Germans will delay the imposing of import tariffs

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The German government would like to postpone the imposition of European import tariffs on USD 4 billion of US products, in order to improve trade relations with the United States because of the Democrat Joe Biden’s profits in the presidential election. According to a source from the German government against Bloomberg press office, the subject will be discussed at a meeting of EU trade ministers on Monday.

The tariffs are about the long-standing case of illegal subsidies to the aircraft manufacturers Boeing and Airbus. The charges would probably start on Tuesday, if the European Commission agrees. In this case, the US has already imposed import tariffs on USD 7.5 billion of European goods, including French wine and Scotch whisky.

However, Berlin would prefer to wait for tariffs now because there is hope that Biden will improve trade relations between the EU and the US. The economic turmoil caused by the coronacrisis would also play a role in Germany’s desire not to further increase trade tensions between the EU and the US.

About the author

Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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