Trump To Hit EU with Billions in Tariffs after Victory in Airbus Case
WTO ruling sets stage for early confrontation between US and new leaders in Brussels.
Click Like to Follow Fliegerfaust Facebook page to get the News ASAP / Share to share this post now.
September 15, 2019 - by JAKOB HANKE for politico.eu
- WTO ruling sets stage for early confrontation between US and new leaders in Brussels.
- To make matters worse for Airbus, the list also contains EU aircraft parts — a move that EU officials said was designed explicitly to disrupt the company's supply and manufacturing chain by depriving the company of the parts it needs for the final assembly of its A320 model in the U.S. state of Alabama.
The United States has gotten the green light to impose billions of euros in punitive tariffs on EU products in retaliation for illegal subsidies granted to European aerospace giant Airbus.
Four EU officials told POLITICO that the World Trade Organization ruled in favor of the U.S. in the long-running transatlantic dispute and sent its confidential decision to Brussels and Washington on Friday.
The decision means that U.S. President Donald Trump will almost certainly soon announce tariffs on European products ranging from cheeses to Airbus planes. One official said Trump had won the right to collect a total of between €5 billion and €8 billion. Another said the maximum sum was close to $10 billion.
The decision sets the stage for a showdown between Europe and Washington just as the EU is transitioning to new leadership under incoming Commission President Ursula von der Leyen and Trade Commissioner-designate Phil Hogan.
In unveiling her team on Tuesday, von der Leyen signaled a robust approach to transatlantic disputes on trade and other issues with the Trump administration.
Washington has previously announced it would follow through with tariffs if it won the case...
- Faust's Notes - FliegerFaust ›
- WARNING: F-35 Jets: Chinese-Owned Company Making Parts for ... ›
- Justin Trudeau Said he Would Not Buy the F-35 - Reuters ... ›
- F-35 Will Not Meet 80% Mission Capable Goal - FliegerFaust ›
- The Insider - What's Going To Happen at Bombardier - A Must Read ... ›
- Bombardier's Global 7500 Aircraft Breaks Key Speed Record ... ›
- Is Bombardier Preparing to Replace Bellemare as CEO ... ›