As punishment for US subsidies for Boeing, the European Union decided to move forward with its plan of hitting $4bn (£3bn) of American goods with tariffs.
According to BBC news agency, the taxes, authorised by the World Trade Organization last month, will come into effect on Tuesday.
In fact, EU will impose tariffs of 15% on U.S. exports of planes and parts and of 25% on a range products including tobacco, nuts, fruit juice, fish, spirits, bags, tractors and casino and gym equipment.
For the records, the tariff decision came following the U.S. tariffs on $7.5 billion of EU products last year.
In light of the situation, EU Trade Commissioner Valdis Dombrovskis said the EU wanted to see both sides remove their respective tariffs, which are a result of a long-running feud over state support provided to plane-maker Boeing and European rival Airbus.
“Removing these tariffs is a win-win for both sides, especially with the pandemic wreaking havoc on our economies, we now have an opportunity to reboot our transatlantic co-operation and work together towards our shared goals”...as Mr Dombrovskis told BBC.
Concluding, Dombrovskis repeated an EU offer that the bloc was ready to suspend its measures at any time if the United States did the same, “whether under the current or the next administration.”