The European Union and the United States have suspended fines on milk and meat

The European Union and the United States have agreed to suspend all export fines for four months in the long-running Airbus and Boeing subsidy dispute. During that time, the new US President Joe Biden wants to make new trade agreements with the European Union. Biden visits Brussels.

Stopping import duties would make many European food and meat products cheaper in the United States. European products subject to an additional 25 percent customs duty include Irish single malt whiskey, liquor, assorted cheeses, bacon, yogurt and butter, various fats and oils, and various fish and seafood.

In a statement, the European Commission said the suspension “allows both sides to focus on resolving this long-standing dispute.” Commerce Commissioner Valdis Dombrovsky spoke of an important step.

Restore hope

“This suspension will help restore confidence, so it allows us to negotiate a comprehensive and long-term solution. A positive trade relationship between the EU and the United States is important not only for both sides, but for global trade in general,” Dombrovsky said.

Biden had previously said he would approach many things differently in his international trade policy. As a first step, Paris wants to bring the United States back in line with the climate deal. He wants to do more with the EU against the growing Chinese expansion.