US set to impose tariffs on $7.5bn of EU exports in Airbus row

Sun Online Desk

3rd October, 2019 03:28:20 printer

US set to impose tariffs on $7.5bn of EU exports in Airbus row

 

The US has been given the go-ahead to impose tariffs on $7.5bn (£6.1bn) of goods it imports from the EU.

It is the latest chapter in a 15-year battle between the US and the EU over illegal subsidies for planemakers Airbus and rival Boeing.

The World Trade Organization (WTO) ruling will mean tariffs on EU goods ranging from aircraft to cheese, olives and jumpers from 18 October, reports BBC.

Brussels has threatened to retaliate similarly against US goods.

What happens next?

US trade officials said the tariffs would be set at a 10% rate on aircraft and 25% on agricultural and other items.

They have published a list of all the items that will be subject to the additional tariffs, most of which will apply to imports from France, Germany, Spain and the UK.

The US said it had the authority to increase the tariffs "at any time" or change the products affected.

Meanwhile, the two sides are waiting for the WTO to decide on what tariffs the EU can impose against the US in retaliation for US state aid given to Boeing. That ruling is expected next year.

The European Commission, which has proposed tariffs on $20bn (£15bn) of US goods, said it hopes to reach a settlement.

 

 


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