7/2, 1:06 AM (Source: TeleTrader)
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USTR proposes tariffs on $4B of EU goods in aircraft dispute

The Office of the United States Trade Representative (USTR) proposed the introduction of tariffs on around $4 billion of products from the European Union "in order to enforce US rights in the World Trade Organization (WTO) dispute against the EU and certain EU member states regarding EU subsidies on large civil aircraft."

The tariffs would target 89 items to the initial list of goods published in April and valued at $21 billion. The USTR noted that the initial punitive measures could come into effect immediately if the arbitrator in the dispute issues a decision before the end of the public comment process on the supplemental list.

The US and the EU have been embroiled in a dispute over illegal subsidies to the Boeing Company and Airbus SE, respectively. The WTO findings resulted in a mutual threat of tariffs, although both sides expressed hope they could reach an agreement.

Breaking the News / DJ