Brussels insists on long tax exemption with US | Now

The European Union (EU) has asked the United States to suspend billions of dollars in import duties on each other’s products for six months. European Trade Commissioner Valdis Dombrovsky told the German press on Saturday Glass. In doing so, Brussels wants to go beyond the four-month tax cut it agreed last month.

It seems that the superpowers are finally coming together in connection with illegal government assistance to aircraft manufacturers Boeing and Airbus, which have been going on for almost 17 years. “We propose to suspend all reciprocal fees for six months to resolve the issue through negotiations,” Dombrovsky said. The suspension allows both parties to focus on resolving long-standing dispute.

Washington has previously accused European countries of backing Airbus with favorable loans. In turn, the EU felt that Boeing was helping favorable tax rules. In response to this controversy, additional trade fees were imposed on both sides.

In November, Brussels imposed import duties on US products worth about $ 4 billion (3. 3.36 billion). The previous US administration, led by President Donald Trump, had previously set tariffs on $ 7.5 billion worth of European products, including cheese, olives and whiskey. The European luxury band Louis Vuitton Moyd Hennessy (LVMH), known from Moyd & Sandon, Weave Cliccot and Dom Perignon and Microsoft, was particularly affected by the fees.

Business organizations VNO-NCW and MKB-Netherlands said last month that the tax would not have a major impact on the Dutch economy. It is important for the Dutch business community that the economic powers normalize trade relations.