On Friday, the United States and European Union agreed to suspend all tariffs related to the dispute over Boeing and Airbus subsidies. The four-month suspension will result in the removal of tariffs on agricultural, industrial, and consumer products worth $11.5 billion including wine, whiskey, cheese, olives, nuts, and other food items from the EU.
Removing these tariffs is a big win for the restaurant industry and will help restaurants begin to recover amid the pandemic and resulting shutdowns. Suspension of the tariffs also marks a first step towards improving our trade partnerships with the EU and will allow the time and space to create a more permanent negotiated solution.