Tariffs between USA and EU
In recent years, trade relations between the US and the EU have become the subject of much discussion and dispute. The tariffs and trade measures that have been put in place have far-reaching consequences for entrepreneurs, consumers and the economies of both regions.
Trade tensions between the US and the EU are not new. In recent years, we have witnessed many conflicts involving various sectors, from the automotive industry to agriculture. In 2018, former President Donald Trump launched a trade war that led to the introduction of high tariffs on steel and aluminum, prompting retaliatory action from the EU.
Key moments:
- Introduction of tariffs on steel and aluminium (2018): The US imposed 25% tariffs on steel and 10% on aluminium, which had a major impact on European producers.
- EU retaliatory measures (2018): the EU introduced retaliatory tariffs on US goods, including whiskey and motorcycles, in response to US sanctions.
- Negotiating trade agreements: In 2021, following the arrival of President Joe Biden, both sides sought to resume dialogue and negotiation of trade agreements.
Current situation regarding customs
Recently, there has been a significant shift in the positions of both parties. The European Union has suspended its retaliatory 25% tariffs on US goods for 90 days in response to Trump's retreat in the trade war. European Commission President Ursula von der Leyen said that the EU wants to give the negotiations a chance and is ready to negotiate a trade agreement with the US. This temporary pause may indicate an effort by both sides to find common ground and avoid further escalation of the conflict.