logo
Plus   Neg
Share
Email

US Proposes Tariffs On $4 Bln Of EU Products Over Aircraft Subsidy

tariffs-july02-lt.jpg

In response to the harm caused by European Union subsidies on large civilian aircraft, the US Government proposed additional tariffs on a range of products imported from the bloc, worth $4 billion.

89 items that the Office of the US Trade Representative listed include coffee, pasta, frozen meat of swine, scotch and Irish whiskey, sausages, hams, olives, pears, cherries, peaches and a wide range of dairy products such as parmesan cheese, reggiano, provolone, edam and gouda.

"This supplemental list adds 89 tariff subheadings with an approximate trade value of USD 4 billion to the initial list published on April 12, which included tariff subheadings with an approximate trade value of $21 billion," USTR said in a statement.

The proposed duties will be imposed only after seeking public comments and holding a public hearing, which is scheduled for August 5 at the U.S. International Trade Commission.

However, USTR made it clear that if the WTO Arbitrator issues its decision in the US-EU trade dispute prior to completion of the public comment process on the supplemental list, it may immediately impose increased duties on the products included in the initial list, and take further possible actions with respect to products on the supplemental list.

In a long standing dispute at the World Trade Organization, the United States and the European Union have been blaming each other of providing unfair subsidies to American aircraft manufacturing giant Boeing and European plane-maker Airbus.

The two entities are the world's biggest trade partners, which amounts to more than 50 percent of global GDP.

The bilateral trade relationship is worth $1 trillion.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT