News US holds off on extra tariffs in EU Airbus...

US holds off on extra tariffs in EU Airbus dispute – Updates

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The U.S. government on Wednesday said it would maintain 15% tariffs on Airbus aircraft and 25% tariffs on other European goods, despite the European Union’s moves to resolve a 16-year-old dispute over aircraft subsidies.

  • On Wednesday, the U.S. government said it would maintain 15% tariffs on Airbus aircraft and 25% tariffs on other European goods, despite moves by the European Union to resolve a long-standing dispute over aircraft subsidies.
  • U.S. Trade Representative Robert Lighthizer said the EU had not taken actions necessary to comply with World Trade Organization decisions, and Washington would initiate a new process to reach a long-term solution.

On Wednesday, Airbus said it regretted a U.S. decision to keep in place 15% tariffs on Airbus aircraft despite European Union actions to comply with World Trade Organization rulings and said it expected Brussels to defend European interests.

“Airbus profoundly regrets that, despite Europe’s recent actions to achieve full compliance, USTR has decided to maintain tariffs on Airbus aircraft — especially at a time when aviation and other sectors are going through an unprecedented crisis,” Airbus spokesman Clay McConnell said in a statement. “Airbus trusts that Europe will respond appropriately to defend its interests and the interests of all the European companies and sectors, including Airbus, targeted by these tariffs.”

On Wednesday, the U.S. government said it would maintain 15% tariffs on Airbus aircraft and 25% tariffs on other European goods, despite moves by the European Union to resolve a long-standing dispute over aircraft subsidies.

U.S. Trade Representative Robert Lighthizer said the EU had not taken actions necessary to comply with World Trade Organization decisions, and Washington would initiate a new process to reach a long-term solution.

Lighthizer’s office said it would modify its list of $7.5 billion of affected European products to remove certain goods from Greece and Britain, adding an equivalent amount of goods from Germany and France.

Last month, Airbus said it would increase loan repayments to France and Spain in a “final” bid to reverse U.S. tariffs and jog the United States into settling a 16-year-old dispute over billions of dollars of aircraft subsidies.

Matthew Leisinghttps://www.newsalarms.com/
I cover market structure for News Alarms, specifically how the bond, derivatives, and cryptocurrency markets work or don't.

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