USTR Lighthizer: EU has not taken actions necessary to come into compliance with WTO decision

Early Thursday morning in Asia, late-Wednesday in the West, the US Trade Representative (USTR) Robert Lighthizer crossed wires, via Reuters, while criticizing the European Union (EU) over the bloc’s performance on the airbus case. The Trump administration member also marked some tariff changes for the UK, Greece, France and Germany.

Key quotes

Will modify list of EU products affected by tariffs in aircraft subsidy case.

Tariff rates on EU products will remain unchanged at 25% for EU goods, and 15% for aircraft

Modifying list of EU products facing tariffs to remove some from Greece and Britain, adding equivalent amount France and Germany.

EU has not taken actions necessary to comply with the WTO decision on aircraft subsidies.

US. committed to obtaining long-term resolution to dispute over aircraft subsidies; will begin new process with EU.

Market reaction

The trade-negative news joins the doubts over American stimulus package to probe the risk-barometer AUD/USD pair’s recent recovery around 0.7160.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD consolidating at lows after mixed US data, Powell

EUR/USD trades near a fresh two-month low of 1.1671 after mixed US Markit PMIs, which anyway indicated economic expansion. Fed speakers highlighted the need for more fiscal stimulus.


GBP/USD holds on to daily gains amid Brexit’s optimism

The GBP/USD pair consolidates around 1.2750, underpinned by EU Chief Brexit Negotiator Barnier's optimism on a post-Brexit trade deal. UK Business activity remains in expansion territory according to Markit.


Gold: Elliott Wave downside targets point to the $1767 area

The commodities complex is taking another hit on Wednesday after a tough start to the week. The recent persistent greenback strength has been a thorn in the side of the precious metal since the dollar consolidation began.

Gold News

In search of the Bitcoin anchorage

When the gates of heaven seemed to open, with the moon clearer than ever, selling came back to the crypto board. After the long winter of 2018/2019, hope was already exhausted, and the current setback is finishing with its remains. 

Read more

WTI flirts with the 200-day SMA below $40.00/bbl ahead of EIA

Prices of the WTI are alternating gains with losses below the key $40.00 mark per barrel on Wednesday.

Oil News