Arlington, VA — U.S. Wheat Associates (USW) and the National Association of Wheat Growers (NAWG) welcome the announcement that the United Kingdom (UK) and the United States agreed to a five-year moratorium on retaliatory tariffs for large civil aircraft subsidies.
This break suspends the retaliatory tariffs levied on non-durum U.S. wheat imports by the UK.
The agreement is similar to one struck earlier this week between the United States and the European Union (EU).
This long-running dispute at the World Trade Organization allowed the UK and EU the right to impose tariffs on non-durum U.S. wheat imports, which mainly impacted U.S. hard red spring and some hard red winter wheat.
"The wheat industry is thankful for President Biden and Ambassador Tai's commitment to prioritize the trade relationships between the United States, European Union, and now the United Kingdom," said NAWG CEO Chandler Goule.
"The five-year truce announced on Tuesday (June 15) with the EU and yesterday (June 17) with the UK removes a significant trade barrier on wheat exports and provides long-term certainty for wheat growers in the upper Midwest."
USW President Vince Peterson noted that this agreement provides the basis for an open dialogue on trade that hopefully will also pre-empt the use of retaliatory tariffs in the still unresolved steel and aluminum dispute between the United States and the UK.