US duties against Europe have been triggered
10% rates for aircraft production
Today US duties against Europe have been triggered as a penalty for the "Boeing-Airbus" case (see AVIONEWS). According to the World Trade Organization (WTO), Europe is responsible for illegitimate subsidies to the European aircraft manufacturer competing with Boeing. Tariffs at 10% for the production of airplanes by France, Germany, Spain and Great Britain. Especially the food sector is affected in particular cheese and alcohol at 25%. The American grasp involves 7.5 billion dollars worth of European goods. During the meeting between Trump and Mattarella that was held on October 16 (see AVIONEWS), the US president declared that he will examine "Italy's requests, also because Rome is not directly involved in state aid to the Airbus consortium".
The French Economy Minister, Bruno Le Maire said on the sidelines of a meeting with US Treasury Secretary Steven Mnuchin that the consequences of these decisions will be very negative both economically and politically.
AVIONEWS - World Aeronautical Press Agency