Donald Trump is poised to hit Europe with tariffs on up to $7.5 billion of EU exports per year. It's setting the stage for an escalation of the transatlantic trade fight
parallel caseWhile Brussels' stated preference is to negotiate a settled resolution covering both cases, the European Commission is considering options to retaliate quickly, should Washington act on the ruling, EU trade chief Cecilia Malmström
Brussels "has consistently communicated to the United States that the European Union is ready to work with them on a fair and balanced solution for our respective aircraft industries," she added. "So far the U.S. has not reacted." For its part, Boeing has urged USTR to focus the retaliation at Airbus planes, helicopters, fuselages and wings.
There's a political risk if Trump ratchets up tariffs on Airbus products, especially if that affects production on the European aerospace company's production facilities in Mobile, Ala. Members of Congress as well as state and local officials have expressed concern about potential job losses if their supply chains are disrupted by U.S. retaliation.EU officials have rejected the idea of paying Washington compensation for any damages, arguing Boeing has benefited from similar subsidies.
French Economy Minister Bruno Le Maire said the EU preferred an "amicable solution" to the dispute. However, "if the United States chooses to impose sanctions, it would be an economic and political mistake. We will be ready with our European partners to respond firmly to them."
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