Trade

Trump Imposes New Tariffs On European Goods

Written by SK Ashby

Trump's regime will be out of power in just seven days, but he's still imposing new tariffs on foreign goods because of a disagreement dating back to the Bush administration.

The regime informed American shipping companies just last night that they will have to pay duties on European aircraft parts and French wines as of today!

In a notice to shippers late on Monday, U.S. Customs and Border Protection said the new duties would apply from 12:01 a.m. ET (0501 GMT) on Tuesday as part of the long-running battle over government subsidies to Europe’s Airbus SE and its U.S. rival, Boeing Co.

The notice here follows an announcement by the U.S. Trade Representative's office that it would impose an additional 15% tariff on aircraft parts, including fuselage and wing assemblies, and a 25% duty on certain wines.

These new tariffs should not be confused with new tariffs the regime imposed on French goods last week in response to their new tax on digital services performed inside France.

In related news, Bloomberg reports that that European Union is already drafting a proposal for Joe Biden's White House that will unwind all the various facets of Trump's trade war.

The European Union is working on a proposal for the incoming Biden administration on a new trade relationship, including settling a longstanding aircraft dispute that has seen the allies impose tariffs on $11.5 billion of each other’s exports, according to people familiar with the matter.

The EU is in discussions with member states affected by the conflict, including Germany and France, over how to resolve the issue of illegal aid both sides provided to Airbus SE and Boeing Co., said the people, who asked not to be identified because preparations are ongoing.

Sources close to the European Commission say their proposal will go far beyond the 16-year-old aircraft dispute and ensure that something like this won't happen again.

I don't think anyone can guarantee that it won't happen again because Americans are only ever another four years away from electing another madman, but the time is right and the iron is hot. With everything else going on in the world, it should be relatively easy and cost very little political capital for the the Biden administration to quickly strike a deal and put this behind us.

If I were a Democratic spokesperson, I would respond to any objections by making the case that ending the trade war is necessary to improve economic conditions for average working people. That is both persuasive and entirely true. Average working people are those who may lose their job because the factory they work in or the bar they tend for can no longer afford their inputs with a 25 to 50 percent tariff on them. And to be even more specific, the new tax on aircraft parts is threatening the operation of plants in Mobile, Alabama where Airbus planes are assembled.