5 years ago

May increase tariffs on EU to reduce trade deficit

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In an interview on December 17, US Trade Representative Robert Lighthizer said that in order to reduce the long-term trade deficit with Europe, tariffs on European goods may be increased.

In an interview with Fox Business Network, Lighthizer said that the United States and the European Union are currently negotiating disputes over subsidies between aircraft makers Boeing and Airbus, saying it may increase the current $ 7.5 billion in Europe Customs duties. He said Washington’s goal was to reach a good negotiated solution.

He said that the United States and the European Union have a very imbalanced trade relationship, also known as the United States and the EU’s merchandise trade deficit may increase to 1.8 trillion US dollars in 2019, thinking that the United States needs to find ways to sell more goods to Europe. The Office of the United States Trade Representative (USTR) released on December 12 a list of EU products that are considering an extension of up to 100% tariffs, including British whiskey and French cognac, as well as olive oil, cheese and cutlery.

Lighthizer also mentioned a free trade agreement with Britain during his visit. Brexit is imminent, he said that the United States will give priority to negotiations with the United Kingdom, and also said that when Britain achieves its goals, the two sides will start discussions.


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