EU announces plan for retaliatory tariffs against US

Friday, 18. October 2019 13:11

The European Commission announced on Friday it plans to impose retaliatory measures "in due course" in response to the tariffs the United States introduced in response to EU's subsidies to Airbus.

"We regret the choice of the US to move ahead with tariffs. This step leaves us no alternative but to follow through in due course with our own tariffs in the Boeing case, where the US has been found in breach of WTO [World Trade Organization] rules," European Commissioner for Trade Cecilia Malmstrom stated but warned the tariffs from both sides are in "nobody's long term interest." She added that since both sides have been found to breach WTO rules, the European Union's proposal "on clearly identified existing aircraft subsidies and on future support to our respective aircraft sectors" is still "on the table."

Earlier today, US tariffs on $7.5 billion worth of European goods came into force. Washington announced the countermeasures on October 2 after the WTO ruled that the EU illegally subsidized Airbus.

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Breaking the News / NP