In response to a long-running dispute over aircraft subsidies, the European Union imposed tariffs on $4 billion worth of US goods. Beginning November 10, 2020, there will be an additional 15 percent tariff on large aircraft and a 25 percent tariff on food goods and other products. Examples of impacted goods include certain live fish, chocolate, cocoa powder, vegetable oils, ketchup, soup, tractors, gin, suitcases, video game consoles, and cotton.
The EU has said they are willing to withdraw the tariffs when the US is ready to discuss the trade dispute. Currently, the US has a 15 percent duty in place on large civil aircraft from the US and a 25 percent duty on a wide range of goods from the EU, equating to $7.5 billion.
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