US Suspends Retaliatory Tariffs on UK Fashion and Textiles

3/5/2021 10:02:00 AM

Measures to suspend the tariffs for four months will come into force March 8, backdated to March 4.

March 4, 2021 16:26The 25 percent tariff on goods including cashmere jumpers, swimwear and anoraks was first introduced by the US in late 2019, the result of a 16-year-long dispute between the US and European Union over aircraft subsidies for industry rivals Airbus and Boeing.

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Measures to suspend the tariffs for four months will come into force March 8, backdated to March 4. Meanwhile, the UK Fashion & Textile Association will continue to work with the Department of International Trade to reach a permanent solution, CEO Adam Mansell said in a statement.

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