The US is set to escalate global trade war by considering to impose tariffs on a range of European Union products, ranging from large commercial aircraft and parts to dairy products and wine, from helicopters to some motorcycles.
In a statement published yesterday, US Trade Representative said WTO repeated found that EU subsidies to Airbus have “caused adverse effects” to the US, with harm in USD 11B in trade each year. USTR has begun Section 301 process to identify EU products to tariff, until EU removes Airbus subsidies. A preliminary list of products are identified for public comment.
USTR Robert Lighthizer said: “Our ultimate goal is to reach an agreement with the EU to end all WTO-inconsistent subsidies to large civil aircraft. When the EU ends these harmful subsidies, the additional U.S. duties imposed in response can be lifted.”
