International Financial News 

EU to issue Boeing tariffs against US

10th November 2020

Brussels said it will be pushing ahead with up to €3.7bn in tariffs on US imports over ‘illegal’ state aid given to Boeing

On Monday, the EU said it will be going ahead with up to $4 billion (€3.7 billion) in tariffs against US imports over illegal state aid paid by the US state to Boeing.

EU executive vice president, Valdis Dombrovskis, told reporters that the US has imposed tariffs following a World Trade Organisation ruling in the Airbus case. It said now that the WTO has ruled in the EU’s Boeing case, this allows the 27-member block to impose its own tariffs, which is what the EU has proceeded to do.

The battle between the two sides over aircraft subsidies has been ongoing for 16 years, while relations deteriorated under the Donald Trump administration, which pushes for protectionist policy. Trump is set to leave the office in January after losing to Democrat rival Joe Biden.

It has been suggested that the EU may wish to delay imposing tariffs until after the election, as Biden is seen to be more sympathetic to the EU.

Mr Deombrovskis has instead urged Washington to pursue a comprehensive deal on aviation subsidies worldwide and help bring the disagreement to an end.

“As it has been stated on numbers of occasions from the EU side, we’re ready to suspend or withdraw our tariffs anytime when the US suspends or withdraws their tariffs,” Mr Dombrovskis said.

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EU to issue Boeing tariffs against US