© Reuters. Britain and Vietnam close in on free trade agreement in Hanoi

LONDON (Reuters) – British trade minister Liz Truss said on Thursday she was seeking an early meeting with U.S. President-elect Joe Biden’s pick to be his trade representative, Katherine Tai, to discuss dropping tariffs on Scottish whisky.

Truss said her department was working hard to de-escalate a row over state subsidies provided to civil aviation firms Boeing (NYSE:) and Airbus Group SE (PA:) which prompted the United States and European Union to impose tariffs on billions of dollars of each others goods.

Washington imposed tariffs on an array of EU food, wine and spirits, including on Scotch whisky, which the industry says are putting its future at risk.

“I have been clear with the United States and the European Union that we want to de-escalate this dispute and reach a negotiated settlement – this dispute has already been going on for 16 years and has caused much damage,” Truss told parliament.

“I am seeking an early meeting with the new U.S. trade representative Katherine Tai and this will be one of the items on my agenda.”

In December, Britain said it would use its new-found freedom outside the EU to diverge from the bloc’s common trade policy towards the United States, deciding to unilaterally suspend tariffs relating to the dispute on aircraft subsidies.


Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link