The pandemic has become an integral part of everyday life across the globe. Countries gradually return to solving other issues overshadowed by the outbreak of the coronavirus. Thus, Europe joined forces against the United States and agreed on new sanctions against the country.
At the time of the first coronavirus pandemic, the European authorities dedicated all their time and efforts to tackling more serious problems than the trade war with the US. However, as time passed, previous important matters, including the trade conflict, reminded the European government of themselves. The EU had no option but to retaliate against US economic aggression and responded with an up to 15% increase in tariffs on its agricultural products. Apart from that, the EU raised tariffs on US industrial goods, aircraft products, in particular, up to 25%. These sanctions have already entered into force. Notably, Europe restrained itself from responding to the last moment. Last year, the World Trade Organization gave its permission to the US to impose tariffs on some European goods worth $7.5 billion per year. The EU’s delayed response was caused by the lack of approval from the WTO. The organization gave its consent only in October of 2020 and Europe immediately took counteraction, introducing tariffs on American products worth $4 billion per year.
This decision of the European administration was triggered by the controversy concerning the US aircraft manufacturer Boeing and its European competitor Airbus, which had lasted since 2004. Back then, Brussels accused Washington of excessive government support for the American company. The US blamed the EU for unreasonable funding of the local airliner manufacturer in return.
