Airbus resumes its ascent after yesterday's European stock exchange crash
US duties scare the markets
Today the European shares have recovered, the day after recording the worst session since December 2018, accomplices to the alarming news on manufacturing and growth, the "Brexit" chaos (see AVIONEWS) the commercial and geopolitical tensions and the news that the United States have obtained from the World Trade Organization (WTO) the possibility of imposing tariffs for 7.5 billion dollars (6.8 billion euros) on European exports as a penalty for the subsidies received over the years by Airbus (see AVIONEWS). The tariffs should be operational starting from October 18 with 10% of the duties on airplanes and 25% of agricultural and commercial items. On October 14 there will be a last meeting between US and EU delegations to try to find an agreement at the last minute to avoid the escalation of direct taxes on consumption.
However, today the shares of Airbus have increased by 3.5% recovering the fall of 2% on yesterday.
AVIONEWS - World Aeronautical Press Agency