EU could impose the tariffs on the US for subsidies it granted to the Chicago-based aircraft manufacturer Boeing.
The move is largely reciprocal. The WTO in October 2019 allowed the US to impose $7.5 billion in tariffs on EU goods and supplies as a consequence of the bloc's financial assistance to the Netherlands-based Airbus, Boeing's chief rival. "We have made clear at every stage that we want to settle this long-running issue," the executive vice president of the European Commission Valdis Dombrovskis told journalists at a press conference. "Regrettably, due to lack of progress with the US, we had no other choice but to impose these countermeasures," he said.
Despite the EU plan to move forward with these tariffs, it is hoping for a fresh start when President-elect Joe Biden takes office in January, CNN reported.
Is this Trump winning trade wars? I am confused
Will they take a rain-check?
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside the tragic last months of ex-Zappos CEO Tony Hsieh - Business InsiderTony Hsieh sold Zappos for $1.2 billion in his 30s. He was dead by 46. Inside his final Park City months, where he hoped to deliver more happiness as he spiraled.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside high-end custom pianos with Steinway & Sons CEO, Lenny Kravitz - Business InsiderInside the highest end of high-end pianos, with classic brand Steinway & Sons and its newest collaborator, Lenny Kravitz wow
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside the SolarWinds cyberattacks – FireEye leader explains discovery - Business InsiderInside the discovery of the massive SolarWinds cyberattacks: FireEye's top expert explains how his team found a 'needle in a haystack of needles'
Source: BusinessInsider - 🏆 729. / 51 Read more »
GPS data shows Trump supporters made it deep inside US Capitol - Business InsiderGPS data tracked 618 videos from Parler users inside the US Capitol last week. The mob made it deep inside the building. Well no kidding... That's what happens when the authorities welcome them in, and then directs them to the House Floor. OH! And lets not forget about the selfies the cops took with 'protesters' either.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside the meteoric rise of Jon Gray at private-equity giant Blackstone - Business InsiderJon Gray is the future of Blackstone. 50 insiders reveal how the superinvestor consolidated power, elbowed out rivals, and is remaking the firm in his golden-boy image. horrible Check out this, gonna be the next dogecoin
Source: BusinessInsider - 🏆 729. / 51 Read more »