Trump Eyes More Airbus Tariffs: Hey, Why Not?
|Trump is on a Tariff stampede again. He went after Brazil and Argentina today and now has his eyes on the EU. Please consider U.S. May Increase Tariffs After WTO Rejects EU Claims Over Airbus. The World Trade Organization on Monday rejected European Union claims that it no longer provides subsidies to planemaker Airbus, prompting the United States to say it could increase retaliatory tariffs on a wider range of European goods. U.S. Trade Representative Robert Lighthizer said the decision affirmed that European subsidies to Airbus continued to harm the U.S. aerospace industry, and strong action was required to eliminate such market-distorting subsidies. The United States was in October awarded the right to impose tariffs on $7.5 billion of annual EU imports in its case against Airbus. It went ahead with partial tariffs on most Airbus jets and products from cheese to olives and single-malt whisky. Hey, Why Not? This dispute has been going on for 15 years. Has anyone won but the lawyers? Steel Tariffs Meanwhile, in a surprise Tweet today, Trump Restores Steel and Aluminum Tariffs on Brazil and Argentina. Tariffs will raise the price of steel hurting US car manufacturers still reeling over the GM strike and the trade war with China. Trade-Related Recession Warnings China found other suppliers after Trump cut off supplies in his trade war. He has since lifted the ban, but now it's too late. Live and Not Learn So, what can possibly go wrong with more tariffs? Apparently nothing.
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