US refuses to cut European tariffs in Airbus subsidy row – business live

0
62

Rolling coverage of the latest economic and financial news, as America leaves tariffs on a range of European goods in a long-running row over aircraft subsidies

US leaves tariffs on Airbus, and EU wine

7.31am BST

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

U.S. Trade Representative Robert Lighthizer said the EU had not taken actions necessary to come into compliance with World Trade Organization decisions, and Washington would initiate a new process to try to reach a long-term solution.

Lighthizer’s office said it would modify its list of $7.5 billion of affected European products to remove certain goods from Greece and Britain, adding an equivalent amount of goods from Germany and France.

Related: Scotch whisky and French wine hit by $7.5bn US tariffs

“The EU and member states have not taken the actions necessary to come into compliance with WTO decisions.

The United States, however, is committed to obtaining a long-term resolution to this dispute.

Related: Airbus takes final approach to settle 16-year WTO row with US

“The Commission acknowledges the decision of the US not to exacerbate the ongoing aircraft dispute by increasing tariffs on European products.”

European Opening Calls:#FTSE 6224 -0.89%#DAX 13061 +0.02%#CAC 5063 -0.20%#AEX 573 -0.31%#MIB 20377 -0.29%#IBEX 7295 -0.01%#OMX 1781 -0.45%#STOXX 3360 -0.10%#IGOpeningCall

Continue reading…

LEAVE A REPLY

Please enter your comment!
Please enter your name here