Investor Alert

New York Markets Close in:

Aug. 13, 2020, 7:40 a.m. EDT

U.S. holds tariffs on EU products over Airbus aid

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Airbus SE (AIR)

or Cancel Already have a watchlist? Log In

By Steve Goldstein

The U.S. said tariffs on European Union products will remain unchanged, despite efforts by plane maker Airbus to move into compliance with a World Trade Organization decision over state aid.

The Office of the U.S. Trade Representative said the amount of products subject to countermeasures will remain unchanged at $7.5 billion, and the tariff rates will remain unchanged at 15% for aircraft and 25% for all other products.

Airbus /zigman2/quotes/208224336/delayed FR:AIR +0.49% shares traded lower in Paris on the news.

The USTR said it is removing from the tariff list certain products from Greece and the U.K. and adding an equivalent amount of trade from France and Germany.

“The EU and member states have not taken the actions necessary to come into compliance with WTO decisions,” said Ambassador Robert Lighthizer.

The European Commission said it welcomed the U.S. decision not to “exacerbate” the dispute, as Airbus called on European countries to defend its interests.

The U.S. Wine Trade Alliance criticized the decision to keep 25% tariffs on French wine, and the Distilled Spirits Council called on the U.S. to remove the 25% tariffs on single-malt Scotch and the EU to remove the 25% tariff on American whiskey.

Scottish shortbread and lingonberry jam were among the products no longer subject to tariffs.

FR : France: Euronext Paris
+0.42 +0.49%
Volume: 2.01M
Jan. 26, 2021 5:37p
P/E Ratio
Dividend Yield
Market Cap
€66.51 billion
Rev. per Employee

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.