Kerrygold owner Ornua hopes to boost US sales after a breakthrough in a long-running transatlantic trade war. The 17-year-old dispute over subsidies to aircraft manufacturers Airbus and Boeing has cost Ornua €50m in tariffs, which were passed on to US consumers in higher prices. “We welcome today’s decision to prolong the suspension of punitive tariffs on Kerrygold in the US,” said Ornua CEO John Jordan. Despite the tariffs, Kerrygold managed to grow its exports to the US in 2020 on the back of a rise in home baking during the pandemic. The Airbus-Boeing dispute is the longest-running fight in World Trade Organisation history, and dates back to 2004 when the US filed a complaint against EU subsidies to airspace giant Airbus.

Source: Irish Independent June 15, 2021 18:56 UTC