The EU asks the US to withdraw the tariffs in the dispute over Airbus and Boeing -FT

0
1
The EU asks the US to withdraw the tariffs in the dispute over Airbus and Boeing -FT




FILE PHOTO: The Airbus logo at the entrance to the Airbus facility in Bouguenais


© Reuters/Stephane Mahe
FILE PHOTO: The Airbus logo at the entrance to the Airbus facility in Bouguenais

Oct 11 (Reuters) – The new European Union trade official has told the United States to remove tariffs on EU products valued at more than $ 7 billion or else it will suffer additional tariffs on exports to Europe, urging a solution to the dispute over Airbus SE and Boeing Co, the Financial Times reported Sunday. Valdis Dombrovskis told the Financial Times that repairing the transatlantic relationship would be the EU’s priority, and that the United States should withdraw its Airbus-related tariffs as a confidence-building measure.

“Of course, if the United States does not withdraw its tariffs, we have no choice but to introduce our tariffs,” he told the newspaper.

The World Trade Organization (WTO) last October granted Washington the right to impose tariffs on annual EU imports worth $ 7.5 billion in its case against Airbus. Washington then imposed tariffs of 25% on products ranging from single malt whiskey to olives and cheese, and 10% on most Airbus aircraft made in Europe.

In mid-February, the US government said it would increase tariffs on imported EU aircraft from 10% to 15%, increasing pressure on Brussels in the conflict over aircraft subsidies, which has lasted for almost 16 years. . [nL1N2AF00I]

The EU, for its part, has received authorization from the WTO to impose tariffs on US products worth $ 4 billion in retaliation for subsidies to the aircraft manufacturer Boeing, according to sources consulted by Reuters last month. The decision is expected to be made public in the coming weeks. [nL8N2GQ71J]

Dombrovskis declined to speculate on the impact that an eventual Joe Biden presidency could have on the dispute, but told the FT that the Donald Trump Administration had a more protectionist approach.

“But in any case, we will be in contact … and we will try to bring the US Administration back to the framework of multilateralism,” he added.

(Information from Bhargav Acharya in Bengaluru; edited by Elaine Hardcastle; translated by Tomás Cobos)

LEAVE A REPLY

Please enter your comment!
Please enter your name here