10/3/2019, 3:56 PM (Source: TeleTrader)
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US tariffs would be 'short-sighted, counterproductive' - Malmstrom

Any tariff measures the United States may take against the European Union in relation to yesterday's World Trade Organisation's ruling would be "short-sighted and counterproductive", European Commissioner for Trade Cecilia Malmstrom (pictured) said on Thursday.

Malmstrom stated since both the EU and the US were found at fault for illegally subsidizing Airbus SE and the Boeing Co., Brussels will soon receive rights to impose countermeasures against Washington. However, such mutual imposition of tariffs would only harm global trade and damage businesses and citizens, the commissioner claimed, adding the two sides should instead work on a way to find a "settlement to the issue."

However, the US already failed to respond to EU's concrete proposals for a new regime on aircraft subsidies, and a way forward on existing compliance obligations on both sides, Malmstrom warned.

Breaking the News / MD