The UK government plans to cut the 15pc tariff on the import of Boeing aircraft into the region once it separates from the European Union on January 1, 2021.
According to media reports, the UK will rescind the duty levied on the US aero manufacturer’s imports. The country’s international trade secretary, Elizabeth Truss, said that the move was in order to promote a “reasonable settlement” of the long-going trade war between the two countries. She believes that the dispute benefits neither country.
However, Truss indicated that if a settlement was not reached, the UK would re-impose the tariffs. Notably, the UK will roll over the tariffs on US steel in order to protect the domestic steel industry.