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12/2, 9:40 PM (Source: TeleTrader)
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US mulls hiking EU tariffs over Airbus subsidies

In response to an earlier ruling by the World Trade Organization (WTO), which found that the Airbus A380 and A350 jetliners are still being subsidized thanks to past loans from a number of European governments, the Office of the United States Trade Representative said on Monday that a "strong action" is needed to convince the bloc to put a stop to market-distorting subsidies.

The Office added that, given today's ruling, it will consider even higher tariffs on goods coming from the European Union as the subsidies offered to the European planemaker continue to cost US companies significant revenue.

Back in July, USTR proposed some $4 billion in additional tariffs to be imposed on EU goods "in order to enforce US rights in the World Trade Organization dispute against the EU and certain EU member states regarding EU subsidies on large civil aircraft."

Breaking the News / GG