Trump threatens to impose $11 billion in tariffs on European Union products

by   |  VIEW 1050

Trump threatens to impose $11 billion in tariffs on European Union products

Amid an ongoing tariff conflict with China and a retaliatory tariff dispute with Mexico and Canada on wide-ranging issues between plumbing to steel tariffs, US President Donald Trump had set off another set of rivalry and a new front of his trade war against European Union by imposing a tit-for-tat tariffs worth of $11 billion of EU products, raising tensions over a long-running transatlantic aircraft battle.

Europe and United States had long been engaged into a conspicuous conflict over mutual claims of illegal aid to multinational aircraft makers, US-based Boeing Co. and Dutch Airbus, to gain advantage over the world aircraft business.

The case, which had been moving through the desks of World Trade Organization officials for over 15 years, might have entered into a final stage of arbitration, as the US President had already started to spread splinters over multiple EU businesses exposed to this $11 billion worth of US tariffs.

Adding that the EU, a 28-nation European pact, had taken advantage of the United States on trade for long, Trump wrote in a tweet on Tuesday, the 9th of April 2019, “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’s public attack was pushed forward a day after the US Trade Representative Lighthizer had proposed a list of EU products for new US tariffs, ranging from dairy products and wines to large commercial aircrafts, as a retaliation for European Aircraft subsidies amid a world-wide grounding of US-based Boeing Co.’s MAX 737, a move which was cordially mulled by the EU aviation authority.