NABI Gives 'Standing Ovation' to EU-US Tariff Suspension as Duties End March 11
The National Association of Beverage Importers gave a “standing ovation” to the mutual four-month suspension of tariffs between the European Union and the U.S. on March 10, it said in an emailed statement. “The early nomination and confirmation hearing for Katherine Tai as the 19th United States Trade Representative and the recent mutual suspensions announced by the United Kingdom, European Union, and United States are outstanding outcomes of the new Administration’s skills at multi-tasking crucial policy challenges on COVID vaccine distributions, economic relief, supply chain sustainability, and trade policies,” NABI President Robert Tobiassen said. “With Ms. Tai’s pending confirmation by the Senate, the future of trade for the U.S. feels so much more positive.”
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The Office of the U.S. Trade Representative had posted notice of the tariff suspension late on March 10. The notice announced that 15% tariffs on civil aircraft and 25% tariffs on about 150 tariff lines of products including liquor, Italian food and beverages, lenses, Greek yogurt, Spanish pork and more were lifted at 12:01 a.m. March 11, and will remain suspended until midnight July 10. The notice also said that products entered into foreign-trade zones under privileged foreign status before 12:01 a.m. March 11 will still be subject to the additional duties when entered for consumption. The U.S. and the EU had announced the tariff suspension on March 5, but did not set an effective date at that time (see 2103050036).