Article published: December 31, 2020
IB Economics syllabus: International Economics (trade protection, tariffs)
As the trade war between the US and the EU goes on, European cognac gets hit by new tariffs. This is yet another step in the ongoing battle about their aircraft manufacturers, Boeing and Airbus, which have both received substantial subsidies from their governments. These subsidies are considered unfair by both sides, hence they introduced (and keep introducing new) tariffs, instead of ending the trade war. With Biden elected as president of the US, there are hopes that they will finally put an end to it.
Source of image: BBC/Getty images
Do you need a little boost with IB Economics?
Get help from an examiner: check out private lessons.
Looking for more articles?