Below is an extract of a post published on Guardian titled "Trump plans $11bn tariffs aimed at EU's aircraft, cheese and wine – business live"
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Via: Guardian
Proposed US levies would be retaliation for EU subsidies for Airbus 7.45am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Donald Trump’s White House has threatened to impose tariffs on EU goods worth $11.2bn, including French cheese, wine and aircraft, in a move which would significantly escalate trade tensions between the world’s biggest trading blocs. This case has been in litigation for 14 years, and the time has come for action. The Administration is preparing to respond immediately when the WTO issues its finding on the value of US countermeasures”. Our ultimate goal is to reach an agreement with the EU to end all WTO-inconsistent subsidies to large civil aircraft. When the EU ends these harmful subsidies, the additional US duties imposed in response can be lifted. Related: Debenhams on brink despite Mike Ashley’s last-minute offer Continue reading…
