Posted on 04/09/2019 5:12:30 AM PDT by RoosterRedux
President Trump in an early morning tweet on Tuesday touted his administration's tariffs on $11 billion of European Union (EU) products in the wake of a World Trade Organization (WTO) ruling.
"The World Trade Organization finds that the European Union subsidies to Airbus has adversely impacted the United States, which will now put Tariffs on $11 Billion of EU products!" he said.
...
The administration late Monday released a list of about $11 billion worth of EU imports that will be affected by the tariffs as retaliation for EU subsidies to aircraft manufacturer Airbus deemed unfair by the WTO.
U.S. trade representative Robert Lighthizer released the list while calling for an end to EU subsidies that he said harmed U.S. interests.
“Our ultimate goal is to reach an agreement with the EU to end all WTO-inconsistent subsidies to large civil aircraft. When the EU ends these harmful subsidies, the additional U.S. duties imposed in response can be lifted,” Lighthizer said in a statement.
Airbus representatives called the Trump administration's tariff moves "totally unjustified" in a statement to The Wall Street Journal, adding that the company had made changes to satisfy WTO regulators.
“[T]his would lead to unnecessary trade tensions and that shows the only reasonable solution is a negotiated settlement," Airbus representatives told the newspaper.
"The EU has taken advantage of the U.S. on trade for many years," he added. "It will soon stop!"
(Excerpt) Read more at thehill.com ...
Well, well, well........ a truly magnificent turn of events.
I would like to see the list and a breakdown beyond the nebulous $11 billion number
Stocks are down on this today in pre-trading.
At the same time offering a free trade deal with the UK.
He’s helping to grease the skids for Brexit here.
$11B? It should be $110B.
By the time Brexit is all said and done (if it ever happens) the EU will be begging for trade with Brittan. Crappy German car sales are not enough to keep the EU ponsi scheme in the style they’ve been accustomed to.
For many decades I have listened to the media’s daily published “”reasons” for an unexplained drop in the market. Most of them are such obvious bu!!$h!t that I guffaw and slap my knee over them. Today’s is no different. The only reason it’s blamed on Trump’s tarriffs is because they hate Trump. And I won’t laugh about it because they are such lowlifes, it’s no longer humerous.
Tariffing the EU while extending preferential trade to the UK would also probably help the case for going through with Brexit.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.