Trump Threatens Tariffs On European Union
Reuters reports U.S. President Donald Trump on Tuesday threatened to impose U.S. tariffs on $11 billion worth of European Union products.
The United States and Europe have been in conflict for years over claims on both sides of illegal aid to Airbus and Boeing Co.
Both sides say the other country is attempting to unfairly gain advantage in the international jet business.
The case has been making its way through the World Trade Organization for almost 15 years and is approaching its conclusion.
“The World Trade Organization finds that the European Union subsidies to Airbus has adversely impacted the United States, which will now put Tariffs on $11 Billion of EU products!
The EU has taken advantage of the U.S. on trade for many years.
It will soon stop!” Trump said on Twitter.
A U.S. Trade Representative this week proposed a list of EU products for which to add tariffs.
The European Commission said Tuesday it had begun to draft plans to retaliate over Boeing subsidies.
Both sides have won partial victories in their claims that the nations gave Airbus and Boeing unlawful subsidies.