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12/3, 5:32 AM (Source: TeleTrader)
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USTR sees 'no basis' for cutting tariffs on EU

The Office of the United States Trade Representative (USTR) stated that it does not see any elements of the World Trade Organization (WTO) report that would make it reduce tariffs on imports coming from the European Union.

Airbus SE argued that the WTO report said that Boeing Co.'s claims for subsidies of the Airbus A380 program are disregarded because of the announced end of the A380 production by 2021 and that, therefore, tariffs should be cut from $7.5 billion to $5.5 billion.

USTR office hinted earlier that it will consider introducing an increase of tariffs on EU imports since the subsides the bloc provides for Airbus still hurts American firms.

Breaking the News / MS