The EU will seek final approval later this month to slap tariffs on $4 billion worth of US imports in retaliation for subsidies granted to Boeing, after a World Trade Organization ruling handed down on Tuesday.
Earlier in the week, the WTO granted the EU the right to respond to the largest arbitration award in the history of the trade body which allowed the U.S. to impose tariffs totalling $7.5 billion on Airbus SE jets and some other European imports last October. 2 he made it clear that he sees doubling and says one has at least 50% for height. The imposition of $7.5 billion of US tariffs over Airbus subsidies has already started to hit European goods.
Trade tensions between the European Union and the United States have worsened over the past few years, to some extent Airbus and Boeing are the two largest aircraft manufacturers in the world, Another accused of unfairly receiving billions of dollars in government subsidies.
- The skies have always been unfriendly between the USA and the European Union, with claims and counterclaims of unfair subsidies given to Airbus and Boeing, the world's two biggest airplane makers setting off a dispute that's lasted 16 years.
The EU's draft retaliation list aims to target politically sensitive US industries for Trump and his Republican allies in Congress, such as aircraft, coal, farm products and seafood.
The decision by the World Trade Organization on Tuesday was part of a almost 16-year-long trade dispute.
That would assume a higher risk than Airbus partner nations - Britain, France, Germany and Spain - have traditionally priced into the loans and reflects a speculative type of investment.
But one Brussels insider described the United States proposal as "insulting" and said it could accelerate the tariff war.
More than 15 years ago, the European Union and the U.S. sued each other at the WTO for illegal subsidies for Airbus and Boeing. She told us about 7 of these stocks that boomed in the recession - and are likely to perform better in the recovery.
A United States source said Washington was "serious" about getting Airbus to repay aid.
Analysts say both sides are trying to strengthen their positions ahead of any future negotiations. Both sides have urged negotiations while accusing the other of refusing to engage seriously.
Airbus said the disputed system favoured taxpayers because loan repayments on successful jets such as the A320 far outweighed amounts written off on jets that failed to reach sales targets.
Following the publication of the WTO report on the Boeing dispute earlier this week, 13 European associations representing sectors threatened or hit by USA tariffs as part of the Airbus dispute have urgently called on the European Unionand the United States to de-escalate the disputes, work on a negotiated solution and stop targeting unrelated sectors.