European Parliament urges help be given to European producers hit by new US tariffs due to Airbus ruling
Yesterday, the European Parliament urged the Commission to act swiftly to help EU farmers unduly affected by newly imposed US tariffs and to strive to find a negotiated solution to ease EU-US tensions. According to MEPs, the collateral damage borne by EU agriculture and food sector due to the US decision to impose increased duties on many agricultural products amounts to €6.8 billion.
The problem stems from a WTO ruling on Airbus subsidies, which gave the US the right to levy tariffs on EU exports as retaliation for earlier, excessive EU subsidies given to the aircraft maker Airbus. The US levied up to 25 percent of tariffs since 18 October 2019 on a large number of agricultural products such as French wine, Italian cheese and Spanish olive oil. Meanwhile, the EU won a parallel case brought against American aircraft maker Boeing, and the WTO ruling on the level of tariffs under which the EU can act is expected to be handed down in 2020.
See the full press release here.