Posted on 10/03/2019 6:13:13 AM PDT by bobsunshine
Jumpin’ ju-ju bones – The Trump administration via U.S. Trade Rep Robert Lighthizer and Commerce Secretary Wilbur Ross won a massive $7.5 billion award as an outcome of the World Trade Organization agreeing with the U.S. against the EU and Airbus subsidies. The WTO arbitrators decision is final and cannot be appealed.
This win sets the stage for President Trump to deploy $7.5 billion in countervailing duties against products from the EU. Keep in mind, a final WTO ruling means the EU cannot retaliate against any WTO-authorized countermeasures. The downstream ramifications are very significant. Think about it: at 25% the U.S. could tariff $30 billion in EU goods.
"Washington, D.C.– The United States has won the largest arbitration award in World Trade Organization (WTO) history in its dispute with the European Union over illegal subsidies to Airbus. This follows four previous panel and appellate reports from 2011-2018 finding that EU subsidies to Airbus break WTO rules.
Today’s decision demonstrates that massive EU corporate welfare has cost American aerospace companies hundreds of billions of dollars in lost revenue over the nearly 15 years of litigation.
“For years, Europe has been providing massive subsidies to Airbus that have seriously injured the U.S. aerospace industry and our workers. Finally, after 15 years of litigation, the WTO has confirmed that the United States is entitled to impose countermeasures in response to the EU’s illegal subsidies,” U.S. Trade Representative Robert Lighthizer said.
(Excerpt) Read more at theconservativetreehouse.com ...
The US collects the money. If you want that German car, the price is 25% higher or whatever based on the tariffs. But, for the German car manufacturer to compete with other manufactures, they usually pay the tariff. For example, if you’ll notice, the consumer price index has barely moved higher even though we have all these tariffs on China - because, China is absorbing it. Hope this helps.
Well that was a reach on your part, know what makes me happy....I think not! Only consumers that buy tariffed products pay the involuntary tax, hah? Try and buy something not made in China.
If you buy a Chinese product, it’s your choice.
It’s a voluntary tax, just like lottery tickets.
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