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.
Leah Kunze just graduated MBA and is proud of it. She is interested in automotive industry and innovations. She well be glad to receive a mail to leah.kunze@economicinform.com
