UK banks hold sufficient capital to cope with no-Brexit and Trump trade war, BoE says 

Hitachi commences sale of $5.6 billion chemical unit 

Cybersecurity firm McAfee’s IPO could raise at least $1 billion: Reports 

Hitec Vision, Oman’s Petrogras to acquire Total’s British North Sea oilfields for $635 million


USTR to impose $4 bn tariffs on EU goods over aircraft subsidy dispute

US tariffs, aircraft dipute

The World Trade Organisation discovered that Boeing and European rival Airbus received subsidies worth billions of dollars

With the ongoing trade war, the US government has exerted pressure on Europe as well, threatening to impose tariffs on $4 billion worth of EU goods over an aircraft subsidy dispute. 

With the ongoing trade war, the US Trade Representative (USTR) said that the tariffs could hit products such as olives, Italian cheese, and Scotch whiskey among others, in addition to products worth $21 billion announced in April, media reports said. 

But that’s not all. USTR said that it additionally including 89 tariff sub-categories to the existing products list, which includes different kinds of metals. 

It appears that the United States and the EU have warned that they will impose billions of dollars as tit-for-tat tariffs on bigger commodities such as airplanes, tractors, and food at the World Trade Organisation. This dispute is over aircraft subsidies given to US planemaker Boeing and its European rival Airbus SE.

The World Trade Organisation discovered that the two aircraft makers have received harmful subsidies worth billions of dollars. 

Last month, senior officials from both aircraft manufacturers have requested the US government to slow down tariff imposition on the EU for the sake of American manufacturers, the media reports said. 

With the US’s potential tariffs on EU goods, spokeswoman Lisa Hawkins told Reuters, “We strongly oppose the inclusion of distilled products in the proposed retaliation list.

“US companies — from farmers to suppliers to retailers — are already being negatively impacted by the imposition of retaliatory tariffs by key trading partners on certain U.S. distilled spirits … and these additional tariffs will only inflict further harm.” 

Leave a Comment