Tariffs on EU Cognac by the US as Trade War Escalates

//Tariffs on EU Cognac by the US as Trade War Escalates

Tariffs on EU Cognac by the US as Trade War Escalates

BBC: Cognac targeted with tariffs in US-EU trade row

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

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By | 2021-01-28T10:50:18+00:00 January 28th, 2021|International Economics|Comments Off on Tariffs on EU Cognac by the US as Trade War Escalates

About the Author:

My name is Daniel Szekely and I work as an IB Economics tutor, examiner and teacher. Having earned an MA degree in Economics at the University of Aberdeen, I started my career as a financial analyst at Morgan Stanley, one of the largest investment banks of the world. Yet, despite the promising career prospects of the banking industry, I decided to make a larger social impact by becoming a teacher. Currently, I teach IB Economics at SEK Budapest International School and have been an examiner for over 8 years. I started EconDaddy as a simple blog to share great articles with my students and others taking IB Economics around the world to use for their commentaries. Being a practicing IB Economics tutor, I have first hand insight into the most common mistakes of students, so the EconDaddy blog now also provides exam and commentary writing tips.

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