Joint US-UK Statement Commits to Rapid Settlement of Airbus/Boeing, Removal of DSTs
A joint statement from British Prime Minister Boris Johnson and President Joe Biden said the two governments commit to the rapid settlement of the Airbus-Boeing subsidies dispute, and said the two countries will "pursue opportunities to deepen our already extensive trade relationship. " The possibility of a U.S.-United Kingdom free trade agreement was not explicitly mentioned, however.
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
The two leaders also said they support the concept of countries having the right to at least 20% of profits past the 10% margin from the largest and most profitable multinational companies that do business in those countries but are headquartered elsewhere. "We will provide for appropriate coordination between the application of the new international tax rules and the removal of all Digital Services Taxes, and other relevant similar measures, on all companies," they said. "We also commit to a global minimum tax of at least 15% on a country by country basis. We agree on the importance of progressing agreement in parallel on both [foreign policy] Pillars and look forward to reaching an agreement at the July meeting of G20 Finance Ministers and Central Bank Governors."