Saturday 14 December 2019
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business-standard - 12 days ago

US to consider new tariffs on EU after WTO ruling on aircraft subsidies

The United States on Monday said that it will consider imposing new tariffs on products from the European Union (EU) after a World Trade Organisation (WTO) investigation confirmed that EU aid to Airbus has hurt the American aircraft industry. In light of today s report and the lack of progress in efforts to resolve this dispute, the US is initiating a process to assess increasing the tariff rates and subjecting additional EU products to the tariffs. USTR will publish a Federal Register Notice regarding that process later this week, the Office of the US Trade Representative (USTR) said in a statement.The WTO earlier on Monday ruled that the EU has failed to abide by an order to end the illegal subsidies, which the US has previously said cost its aerospace industry about USD 7.5 billion, USTR noted. The WTO panel...found that European governments had extended the subsidies by renegotiating the launch aid in a way even more favourable to Airbus, USTR said. As a result, the panel found .


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