Trump's warning to the European Union about subsidies

Trump's warning to the European Union about subsidies”

The World Trade Organization decision is part of a 16-year-old dispute over granting subsidies Boeing.

The loans stand at the centre of a dispute that has dragged on for 16 years and hit trade relations in sectors ranging from luxury goods to agriculture as the two sides seek to punish each other's aircraft subsidies with tariffs.

On October 13, 2020 the World Trade Organization (WTO) issued its latest ruling in the long-standing Boeing-Airbus dispute, granting the European Union the authority to impose compensatory tariffs totaling up to US$4 billion on U.S. goods in response to allegedly illegal subsidies provided to Boeing.

"We clearly prefer a negotiated solution", said the Vice President of the EU Commission responsible for trade policy, Valdis Dombrovskis.

To date, the USA has not applied the full thrust of its $7.5 billion tariff award that the WTO granted past year in a parallel dispute against Boeing's European rival, Airbus SE.

In response to the situation, as a gesture of goodwill, the EU-based coalition of associations is seeking the United States to suspend additional tariffs imposed on European products while negotiations are ongoing.

"The World Trade Organisation authorises the European Union to overtax U.S. imports by $4 billion [per year]".

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The offer is not likely to fly with the E.U. One European source called the US proposal "insulting". She told us about 7 of these stocks that boomed in the recession - and are likely to perform better in the recovery. The arbitrator found that both Boeing and Airbus previously received illegal subsidies in various forms and implored both the USA and the European Union to stop them. A US source, meanwhile, said Lighthizer was "serious" about getting Airbus to repay aid.

Both sides have called for talks while accusing the other of refusing to engage seriously.

Washington argues that merely addressing future types of support would fail to resolve ongoing harm to Boeing caused by the presence on the Airbus balance sheet of past loans that it can still use to develop jets and offer unfairly low prices. The Office of the US Trade Representative made a decision to maintain a 25 per cent tariff on non-aircraft products.

Following the publication of the WTO report on the Boeing dispute earlier this week, 13 European associations representing sectors threatened or hit by U.S. tariffs as part of the Airbus dispute have urgently called on the European Unionand the United States to de-escalate the disputes, work on a negotiated solution and stop targeting unrelated sectors.

Currently Airbus repays government loans only when its sales exceed a certain threshold, while loans for weak-selling planes such as the A380 superjumbo can be waived partly or fully.

Airbus said the disputed system favoured taxpayers because loan repayments on successful jets such as the A320 far outweighed amounts written off on jets that failed to reach sales targets.

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