A group of 72 EU and U.S. organizations urges leaders to remove or at least suspend all additional and retaliatory tariffs affecting or threatening Trans-Atlantic trade.
In a letter addressed to President Joe Biden and the EU Commission President, the groups say suspending the tariffs is urgently needed to address economic harms. Specifically, the groups refer to tariffs on large civil aircraft and steel and aluminum disputes. Food and agricultural goods make up a disproportionate number of the EU’s overall tariff line, according to a 2020 analysis by the American Farm Bureau Federation. The most impacted group includes alcohol, tobacco and cotton. The next largest category is oilseeds, oils and fats.
The letter states, “We believe immediate suspension of these tariffs is a necessary and fundamental action, which will provide an economic stimulus at a time when it is needed most.” Groups signing the letter include the American Soybean Association, the National Association of Wheat Growers, the U.S. Grains Council and others.
