The U.S-China trade war got a lot of media attention lately but behind the scene, U.S is engaged in another war with the European Union known as the U.S-EU Trade war.<\/p>\n
\n\nEurope has been treating us very badly. Over the last 10, 12 years, there\u2019s been a tremendous deficit with Europe. They have barriers that are incredible … So we\u2019re going to be starting that. They know that. \u2013 Donald Trump<\/p><\/blockquote>\n<\/blockquote>\n<\/blockquote>\n
The U.S-EU trade tensions mounted 16-years ago when WTO<\/a> claimed that Europe failed to draw back the millions of dollars support from the Airbus<\/a>, a Europe based aircraft maker. In retaliation, the European Union chiefs claimed that America is illegally subsidizing Boeing<\/a>, an American aerospace company.<\/p>\n
So for 16-years, both the regions had fistfights over Boeing-Airbus disagreements with less media attention than the 2018 China disputes.<\/p>\n
However, tensions between the U.S and EU are still alive even in the time of the pandemic. President Trump wants to carry on the legacy of his predecessors to reduce the trade gap in the transatlantic region.<\/p>\n
Reports are coming up about tensions between Washington and Brussels for trade tariffs. The U.S government declared an additional 5% duty on aircraft imports from the European Union. $4.3 billion<\/a> worth of European goods is subject to a new tariff as early as August this year.<\/p>\n
What Will Happen to the U.S-EU Trade War if Biden Becomes The President?<\/h2>\n
As the U.S election unfolds this year, everyone will keep an eye on the transatlantic trade dispute if Joe Biden<\/a> takes over the U.S throne in November. The leading polls on June 30 indicate a Biden victory who is more a statesman rather than a businessperson.<\/p>\n
So experts are relying on a reduced tariff by the new Biden administration to improve the U.S-EU relationship. To maintain the superpower position United States needs friends like Europe to stop the emergence of China.<\/p>\n
Already China is proving itself a competitor of the U.S in every sector possible including the technology sector, space programs, automotive industry, etc.<\/p>\n
Since the trade war between the U.S and EU dates back to Trump\u2019s ascendency it will be difficult for any new administration to solve the matter very quickly. But we can expect that a new regime in the United States will surely try to be in the good eyes of the former friends to fight against any other strength rising in the horizon.<\/p>\n
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