With the move, the USTR said it was kicking off the process for retaliation against over $11 billion worth of damage from EU subsidies to Airbus that the World Trade Organization has found cause “adverse effects” to the United States. The move by the USTR marks an escalation of tensions as the United States seeks to slap hefty tariffs on a range of EU products. The EU has left most of its subsidies unchanged and launched additional aid since the challenge, USTR said. “Our ultimate goal is to reach an agreement with the EU to end all WTO-inconsistent subsidies to large civil aircraft. The United States has estimated the value of those subsidies worth $11.2 billion in trade, though the EU has challenged that estimate.

Source: bd News24 April 08, 2019 23:48 UTC