Skip to comments.World Trade Organization authorizes US Tariffs on $7.5 bil. in goods from EU over Airbus subsidies
Posted on 10/03/2019 7:20:31 AM PDT by SeekAndFind
The World Trade Organization handed down a ruling yesterday that because the European Union subsidized Airbus in its competition with Boeing, the United States could impose retaliatory tariffs on $7.5 billion in EU exports to the United States. The Wall Street Journal reports on the retaliatory tariffs being planned:
The Office of the U.S. Trade Representative said it would impose the tariffs starting Oct. 18, with 10% levies on jetliners and 25% duties on other products including Irish and Scotch whiskies, cheeses and hand tools.
As a Scotch drinker, I am not happy about this, and wonder how many of us are presumed to be driven to Bourbon or Rye by the extra cost. Cheese and hand tools may be substitutable, but when it comes to spirits, tastes tend to be pretty well fixed.
The plain fact is that both the US and the EU subsidize airliner manufacturing, and the EU has a complaint pending at the WTO – filed 9 months after Boeing’s -- that will result in a judgment in the coming months. The EU’s complaints center around defense work being used to subsidize development and manufacturing costs, while the US complains about financing purchases and cost guarantees that limit the risk of spending money on development of new models. Both parties must face the fact that China and Russia are eager to crack the global market for jetliners and are in a position to benefit from mutual tariff escalation between the EU and US.
Meanwhile, US airlines slated to accept delivery of Airbus planes must worry about a sudden increase in their costs.
(Excerpt) Read more at americanthinker.com ...
Delta Airlines and some others really Pi$$ed!
“...and 25% duties on other products including Irish and Scotch whiskies, cheeses....”
Why screw with the English, Scots and Irish (and our whiskey and cheese)? They’re more or less on our side. How about f’ing over the cheese-eating surrender monkeys, or the Leftist, Russia-blowing, Krauts instead?
Damn you Donald Trump!! Oh, wait......
It's fine to tariff hand tools, pay a little extra for American made, but not so much spirits?
Quit whining, pay up.
Ah but remember...the UK should be out of the EU by the 31st.
I’m a bourbon but I do buy the occasional bottle of Islay scotch.
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