U.S. holds tariffs on E.U. products over Airbus aid
The U.S. said tariffs on European Union products will remain unchanged despite efforts by Airbus to move into compliance with a World Trade Organization decision over state aid.
The Office of the U.S. Trade Representative said the amount of products subject to countermeasures will remain unchanged at $7.5 billion and the tariff rates will remain unchanged at 15% for aircraft and 25% for all other products.
shares opened lower in Paris on the news.
The USTR said it’s removing from the tariff list certain products from Greece and the United Kingdom and adding an equivalent amount of trade from France and Germany.
“The EU and member states have not taken the actions necessary to come into compliance with WTO decisions,” Ambassador Robert Lighthizer said.