US and Europe Will Suspend Tariffs on Alcohol, Food, and Airplanes

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.