Europe

The U.S. and European Union on Monday announced an agreement on how the EU and UK would apportion tariff-rate quotas post-Brexit to ensure “certainty for U.S. producers,” concluding a consultation required under the World Trade Organization.

The U.S. and European Union on Friday agreed to a four-month suspension of all tariffs imposed in the World Trade Organization disputes involving aircraft producers Airbus and Boeing, committing to work toward a permanent resolution.

The U.S. and the United Kingdom on Thursday announced plans to temporarily suspend tariffs imposed in the 16-year-old World Trade Organization dispute involving aircraft producers Airbus and Boeing, pledging to work toward a resolution. 

The U.S. will aim to “protect America’s tax revenues” in negotiations at the Organization for Economic Cooperation and Development, President Biden’s pick for deputy Treasury secretary said on Tuesday, potentially complicating talks with other countries that want U.S.-based companies to pay taxes in other jurisdictions.

The U.S. had some “valid” concerns about the World Trade Organization’s Appellate Body, the European Union acknowledged this week in a new trade strategy, moving closer to the U.S. – at least officially – on dispute settlement issues as well as other WTO reform priorities like special and differential treatment.

Yellen committed to “re-engage actively” in the ongoing OECD talks on a new international tax framework.

“Without immediate relief there is a real possibility that the United States could lose the fresh grapefruit market in the EU to other countries that are not subject to this tariff,” the members of Congress wrote.

House Ways & Means Committee Chairman Richard Neal (D-MA) hopes U.S. trade agreements with the United Kingdom and Kenya will be concluded and sent to Capitol Hill for review this year, he said on Tuesday.

The U.S. Chamber of Commerce on Wednesday urged the Biden administration to launch a trade and technology council with the European Union, as the bloc has proposed, and cited conversations with the State Department in which they said officials had been “receptive” to the idea.