EU: Countermeasures against United States in large civilian aircraft dispute
EU countermeasures against United States
The European Commission (EC) today issued a release with regard to a regulation that imposes increased tariffs on U.S. exports into the European Union (EU) having a value of $4 billion. The regulation will be effective when published in the official journal of the EU on November 10, 2020.
The Dispute Settlement Body of World Trade Organization (WTO) in October 2020 formally authorised the EU to take countermeasures against the United States in the large civilian aircraft dispute.
Today’s EC release announces the following countermeasures:
- Additional tariffs of 15% on aircraft
- Additional tariffs of 25% on a range of agricultural and industrial products imported from the United States
Read a list of products that are subject to additional customs duties.
These tariffs mirror the countermeasures imposed by the United States in the context of the WTO case on subsidies in the large civilian aircraft dispute. Today’s EC release states that the countermeasures bring the EU on an “equal footing” with the United States.
Read a November 2020 report prepared by the KPMG member firm in Switzerland
For more information on this topic or to learn more about KPMG’s Trade & Customs Services, contact:
Doug Zuvich |
John L. McLoughlin |
Andy Siciliano |
Steve Brotherton |
Luis (Lou) Abad |
Irina Vaysfeld |
Amie Ahanchian |
Christopher Young |
Gisele Belotto |
George Zaharatos |
Andy Doornaert |
Jessica Libby |
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.
