USTR: US to consider higher EU tariffs following WTO ruling - RTRS

Ross J Burland FXStreet

The US Treasury Office has stated that the WTO panel found the EU launch aid to Airbus continued to cause adverse effects and costs US firms significant revenue.

Key notes

Strong action is needed to convince EU to end market-distorting subsidies.
Citing lack of progress in ending the dispute over aircraft subsidies, says will review increasing tariffs on EU products, adding other items to the current list.

Press release

Panel Rejects EU’s Latest Claims that it Removed Illegal Subsidies

Lead paragraph

Washington, DC – A World Trade Organization (WTO) compliance panel today rejected the European Union’s (EU) latest claims that it complied with WTO rules by making minor changes to its massive launch aid subsidies to Airbus. The WTO recently valued the harm caused by these subsidies at $7.5 billion. Today’s findings reaffirmed that the subsidies continue to cause adverse effects, and found further that European governments even extended the subsidies by renegotiating launch aid with Airbus. Furthermore, the WTO panel found that this massive EU corporate welfare continues to cost American aerospace companies significant lost revenue.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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