EU Makes Appeal to US: Let's Avoid Another Tariff War
Wednesday, 2 October 2019 23:28 WIB | GLOBAL |Global

The European Union made a last-ditch appeal Wednesday to U.S. President Donald Trump to avoid any tit-for-tat tariff war as the global trade governing body prepares to issue a ruling that could allow him to impose billions in duties on EU produce.

The World Trade Organization said in May last year that Europe illegally subsidized planemaker Airbus, hurting U.S. competitor Boeing. It is due to rule Wednesday how much the Trump administration can seek in compensation in the form of new tariffs against the EU.

The EU products that could be targeted include wine, cheese and olives, which are produced in many countries involved in the Airbus consortium.

The EU won a similar WTO case accusing the U.S. of illegally subsidizing Boeing, but a ruling allowing possible retaliation is still months off.

"We should avoid imposing tariffs on one another. This would be damaging to our economies, to global trade and the broader aircraft industry," European Commission spokeswoman Mina Andreeva said.

"We are ready to work with [the U.S.] on a fair and balanced solution for our respective aircraft industries. We are still ready and willing to find a fair settlement, but if the U.S. decides to impose authorized countermeasures, the EU will do the same,'' she told reporters. The commission, the EU's powerful executive arm, runs trade negotiations on behalf of the 28 EU member countries.

Trans-Atlantic trade tensions have soared since Trump slapped tariffs on European steel and aluminum last year. He said the move was to protect U.S. national security interests, but the Europeans claim it is simply protectionism and breaks global trade rules.

In response, the EU introduced "rebalancing" tariffs on about 2.8 billion euros ($3 billion) worth of U.S. steel, agricultural and other products.

Source : VOA

RELATED NEWS

European Signatories Call on Iran to Reverse Actions Against Nuclear Deal
Tuesday, 12 November 2019 23:20 WIB

France, Germany, Britain and the European Union say they are "extremely concerned" about Iran's renewed uranium enrichment activities and what they call "regrettable acceleration of Iran's disengagement" from commitments it made under the 2015 agreement regarding the country's nuclear program. In a...

Tensions High Ahead of Erdogan-Trump Meeting
Tuesday, 12 November 2019 17:59 WIB

Turkish  President Recep Tayyip Erdogan visits Washington this week to meet President Donald Trump, a meeting some consider an opportunity to reset relations that have been strained over numerous policy differences. Turkey's military operation against the Syrian Kurdish militia, the YPG, is ex...

Magnitude-5.4 Earthquake Felt in Southern France
Monday, 11 November 2019 23:21 WIB

The French earthquake detection agency says a moderate tremor measuring 5.4 in magnitude has struck southern France in a remote area of the Drome department between Lyon and Marseille. The agency said the quake occurred before noon Monday and its epicenter was situated near the town of Montelimar i...

Iran Calls Ex-FBI Agent's Case a 'Missing Person' File
Monday, 11 November 2019 19:26 WIB

Iran on Sunday said an open Revolutionary Court case involving an ex-FBI agent who disappeared there in 2007 on an unauthorized CIA mission ``was a missing person'' filing, not a sign that the man was being prosecuted. Foreign Ministry spokesman Abbas Mousavi's comments come as a new Iranian acknow...

Pompeo Issues Stark Warning to Russia, China
Saturday, 9 November 2019 00:03 WIB

Three decades after the fall of the Berlin Wall, the United States said Washington and its allies are still confronting formidable communist adversaries and the free world needs to continue to defend against threats from Russia and China. In a speech near Berlin's iconic Brandenburg Gate, Secretary...

POPULAR NEWS
Tuesday, 12 November 2019 07:50
Asia shares turn sluggish ahead of Trump speech
Wednesday, 13 November 2019 02:28
Gold prices dip on upbeat appetite for riskier assets
Tuesday, 12 November 2019 19:10
Oil Rises Further Above $62 as Trade Hopes Support
ANOTHER NEWS
Gold Rises From Three-Month Low on Trump Tariff Threat
Wednesday, 13 November 2019 09:24 WIB Gold advanced from a three-month low as investors weighed President Donald Trump™s latest comments on a U.S.-China trade deal with the general improvement in risk appetite. Spot gold +0.2% to $1,458.50/oz at 9:38am in Singapore. Price...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.