Click For Photo: https://3c1703fe8d.site.internapcdn.net/newman/gfx/news/2019/washingtonan.jpg
The US on Monday threatened to impose tariff counter-measures of up to $11.2 billion on a host of European products in response to subsidies received by aircraft maker Airbus.
For more than 14 years, Washington and Brussels have accused each other of unfairly subsidizing Boeing and Airbus, respectively, in a ****-for-tat dispute.
Statement - Monday - Office - US - Trade
In a statement Monday, the office of the US Trade Representative (USTR) said the World Trade Organization (WTO) had repeatedly found that European subsidies to Airbus have caused adverse effects to the United States.
"This case has been in litigation for 14 years, and the time has come for action," said US Trade Representative Robert Lighthizer.
Goal - Agreement - EU - Subsidies - Aircraft
"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."
The statement added that the final amount it would seek in duties was subject to arbitration at the WTO, the result of which was expected in the summer.
USTR - Document - List - Products - Tariffs
The USTR issued a 14-page document with a preliminary list of products being considered for additional tariffs, including helicopters, civilian planes and aircraft parts.
It also included food products such as swordfish, salmon, cheeses, fruits, olive oil and wines.
Boeing-Airbus - Spat - Dispute - Dealt - WTO
The Boeing-Airbus spat is the longest and most complicated dispute dealt with by the WTO, which aims to create a level playing field in global trade.
Both aviation giants have scored points along the way.
WTO - March - Billions - Dollars - Subsidies
The WTO ruled in March 2012 that billions of dollars of subsidies to Boeing were illegal and notified the United States to end them.
But a few months later, the European Union filed a new complaint, alleging Washington was not complying with that order.
Wake Up To Breaking News!
No matter where you go, there you are.