16:49 GMT20 January 2021
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    MOSCOW (Sputnik) - French Finance Minister Bruno Le Maire on Thursday said that bilateral sanctions in a trade conflict between Washington and Brussels were harmful to both parties and expressed hope that the tensions would be resolved after Joe Biden enters the White House.

    "These sanctions are very detrimental. A trade war is not in the interests of the US and not in the interest of Europe", Le Maire said in an interview at the Reuters Next conference.

    The minister also said that he hoped to meet with the new US government in Washington next month.

    The trade war between the United States and the 27-nation bloc broke out in 2018 under incumbent Donald Trump's tariffs strategy to change the national trade policy and reduce the trade deficit. 

    The Trump administration slapped tariffs on steel and aluminium imported from the bloc, while the EU retaliated with 25 percent tariffs on US motorcycles and other items, including whisky.

    The tense trade relations between Brussels and Washington are also affected by long-term subsidy row over the US' Boeing and the EU's Airbus aircraft makers.

    The row — the longest in WTO's history — began in 2004 when Washington called out the 27-nation bloc subsidies given to Airbus. The EU in response accused the US of providing state aid packages to Boeing and filed complaints with the WTO.

    Tags:
    Biden, War, trade, US, EU
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