CAOBISCO joins coalition calling for EU and US to end damaging multi-billion trade tariffs
CAOBISCO, the Brussels-based confectionery trade association has joined over 70 organisations across the EU and US, calling on new American president Joe Biden and European Commission president Ursula von der Leyen to immediately suspend major tariffs upon sectors unrelated to the ongoing Boeing/Airbus dispute, reports Neill Barston.
As previously reported, the contentious airline case has results in multi-billion levies being placed on goods and services on both sides of the Atlantic, which the coalition of businesses has warned as having a damaging impact.
Among those joining CAOBISCO, which represents thousands of chocolate, biscuit and confectionery businesses across Europe, are the American Bakers Association, the European Flavour and Fragrance Association, and Euolait, the European Association of Dairy Trade.
The coalition of 72 groups stated that suspending tariffs will alleviate economic harms and help re-establish a cooperative Trans-Atlantic trading relationship, which has proved challenging under the recently replaced Republican administration led by Donald Trump. With extensive experience of dealing with European leaders during his time as vice president to Barack Obama, it is hoped by market observers that Joe Biden (main image), will be able to forge a deal on the ongoing Boeing situation.
“The Covid-19 pandemic and the necessary closures of non-essential businesses continue to affect the global economy, including our sectors which support millions of jobs on both sides of the Atlantic,” said the group of U.S. and EU associations. “The ongoing EU-US trade disputes and additional tariffs, which continue to plague Trans-Atlantic trade, have made a bad situation worse. With the damages we have suffered last year and are still suffering, the current situation cannot be allowed to go on any longer.”
The groups stated, “We believe the 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.”
They concluded: “Our industries support a constructive and flourishing trade and economic relationship between the U.S. and EU. Removal of these tariffs will provide the positive momentum to reset the important bilateral relationship and cooperative efforts to address global economic challenges. In addition, a shared commitment to avoid new additional tariffs will create the necessary certainty and stability needed to grow the Trans-Atlantic economy.”