June 16, 2021 — The United States and the European Union have resolved a trade dispute that had resulted in a ramping up of tariffs, including on some seafood products.
The quarrel, dating back to 2004, centered around subsidies for European airplane-maker Airbus and U.S. plane manufacturer Boeing. The dispute was brought before the World Trade Organization, which ruled in October 2020 that each side could impose billions of dollars in tariffs.
June 16, 2021 — On Tuesday the United States and European Union announced a cooperative framework to address the large civil aircraft disputes which have been raging since 2004. As part of the agreement, the U.S. and EU have agreed to move away from “past confrontation in pursuit of a cooperative future by suspending the tariffs related to this dispute for five years.”
“After years of bitter litigation and weeks of intense diplomacy, we have reached a deal on a set of high-level principles that resets U.S.-EU engagement in the large civil aircraft industry,” U.S. Trade Representative Katherine Tai said in a press release. “We are strongest when we work with our friends and allies, and the partnership with European Commission Executive Vice President Valdis Dombrovskis is a demonstration of that principle in action.”
June 3, 2021 — U.S. Trade Representative Katherine Tai announced, and then immediately suspended, new Section 301 tariffs on goods from multiple countries as part of its one-year investigation of digital service taxes (DSTs).
The new tariffs, which will be set at 25 percent if reinstated, are in response to taxes levied by Austria, India, Italy, Spain, Turkey, and the United Kingdom on revenue generated by “non-resident” companies offering digital services – including the sales of software-as-a-service products. The USTR investigation began in June 2020 and found the practices of the countries discriminatory in January.
February 17, 2021 — Donald Trump’s presidency was a mixed bag for the U.S. seafood industry, according to National Fisheries Institute President John Connelly. Now almost a month into the presidency of Joe Biden, the industry faces a whole different set of challenges, Connelly told SeafoodSource.
Connelly is optimistic Biden will be less aggressive in the use of tariffs than Trump, and he said he’s comforted by the fact that Biden’s picks for U.S. Commerce secretary and U.S. trade representative, Gina Raimondo and Katherine Tai – both of whom are awaiting confirmation votes by the U.S. Senate – are familiar with the seafood industry. But Biden’s environmental initiatives may prove thorny for the industry, and it remains to be seen whether the administration will prioritize the reopening of the foodservice sector, Connelly said.