U.S. to review tariffs on EU goods amid aircraft row

Economy
2/2 © Reuters. U.S. and EU flags are pictured during the visit of Vice President Pence to the European Commission headquarters in Brussels © Reuters. U.S. and EU flags are pictured during the visit of Vice President Pence to the European Commission headquarters in Brussels 2/2

(Reuters) – The United States is weighing its tariffs on European products and is considering changing rates for various products as part of the trading partners’ aircraft dispute, according to a notice by the Office of the U.S. Trade Representative.

“In connection with this review, the U.S. Trade Representative is considering modifying the list of products of certain current or former EU member States that currently are subject to additional duties,” the filing posted late on Tuesday said.

The review stems from the United States’ dispute with the European Union involving Europe’s Airbus (PA:) and U.S. rival Boeing (N:), it said.

The World Trade Organization previously found the world’s two largest planemakers received billions of dollars of unfair subsidies, and last year allowed the United States to levy tariffs on $ 7.5 billion worth of EU goods, including aircraft, wines and cheese in response to Airbus subsidies deemed illegal.

The notice, first reported by Bloomberg, was posted on the USTR website and is set to be formally published in the Federal Register on Friday.

The USTR said it said it may modify duties on a range of EU products, including maintaining current tariffs or increasing them, and was weighing tariffs on other products from Britain, France, Spain and Germany that have an approximate value of $ 3.1 billion.

The WTO is also considering granting the EU similar tariff rights regarding support it deemed illegal for Boeing.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Let’s block ads! (Why?)

Economy News

Leave a Reply

Your email address will not be published. Required fields are marked *