After the Brexit, the UK government wants to abolish import duties on US goods worth USD 4 billion.
The European Union announced the tariffs in November. They include aircraft and aircraft parts, but also many other goods, including fruit, nuts, other agricultural products, spirits, casino tables and building materials. The EU imposed the charges in response to the US decision to impose import tariffs on European products.
After the Brexit, the UK can pursue its own policy, and by removing the charges, the UK wants to show that it wants to put an end to a dispute ‘which does not benefit either country’. This can be seen in the statement by the British government. “We want to de-escalate the conflict.”
The charges are part of a battle between the US and Europe. They have been accusing each other for years of giving illegal subsidies to Boeing and Airbus, respectively, the two largest aircraft manufacturers in the world.
Moreover, this step does not mean that the UK will abolish all import duties on US goods. There are also import duties which have to do with a dispute over steel and aluminium, and they will remain after 1 January.