New US tariffs on French wine and cognac take effect

The EU deplored a new wave of US tariffs on French and German products that went into effect on Tuesday, saying it would seek a trade deal with the incoming Biden government.

The tariffs are another chapter in a 16-year overrun of subsidies to aircraft manufacturers Airbus and Boeing, which became increasingly sour under US President Donald Trump.

French exporters suffered from increased tariffs on wine and brandy, while Germany saw new tariffs on aircraft parts.

“The Commission notes today the entry into force of US tariffs arising from the WTO’s Airbus case on aviation subsidies,” a statement said.

The EU’s executive handles trade issues for the bloc’s 27 member states.

“As we have made clear in the past, we regret that the United States chose to add additional EU products to its retaliation list,” it said.

The EU “looks forward to engaging constructively with the new US Government in resolving this long-standing dispute as part of a renewed transatlantic agenda,” it added.

French exporters of wine and spirits believe that the new tariffs will cost the sector one billion euros in sales, with cognac operations particularly punished.

During the last days of the government, the Trump administration is blowing hot and cold on trade issues with the Europeans.

Washington last week suspended a plan to impose new $ 1.3 billion tariffs on French products in a digital services dispute.

(AFP)