By: GVZH Advocates
In early November 2020, the European Union (EU) announced countermeasures to be imposed against the United States (US) pursuant to a decision issued by a World Trade Organisation (WTO) arbitrator in October 2020.
The countermeasures, published in the Official Journal of the EU in Annex I included civil aircrafts and a punitive tariff of 15% on the value of the aircraft was imposed on all aircrafts originating in the US which carried an unladen weight exceeding 15 000 kg, which are for civil use.
Following a collective industry effort to have this tariff reversed, the EU has suspended the applicability of this tariff, which suspension will be in place until the 10th of July 2021. This suspension has been greatly welcomed and will hopefully lead to a retraction of the imposed countermeasure.
