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AIR - Airbus SE News Story

€97.64 -1.9  -1.9%

Last Trade - 10:26am

Sector
Industrials
Size
Large Cap
Market Cap £67.37bn
Enterprise Value £69.66bn
Revenue £42.84bn
Position in Universe 14th / 850

Britain says decision to suspend U.S. tariffs already paying off

Thu 31st December, 2020 9:56am
LONDON, Dec 31 (Reuters) - Britain said on Thursday its
decision to suspend retaliatory tariffs against the United
States was already bearing fruit after it was spared in a new
round of U.S. tariff increases which hit French and German
produce.
    Britain said earlier this month it would use its new-found
freedom outside the European Union to diverge from common EU
trade policy towards the United States, deciding to unilaterally
suspend tariffs relating to a 16-year dispute on aircraft
subsidies.  urn:newsml:reuters.com:*:nL1N2IO37B
    The U.S. government on Wednesday said it would raise tariffs
on certain EU products, including aircraft components and wines
from France and Germany, arguing that the EU had unfairly
calculated its own tariffs.  urn:newsml:reuters.com:*:nL1N2JA29L
    "The UK wasn’t hit because we suspended tariffs and brought
the U.S. to the negotiating table," a British official said.
"(This) shows we are making the right strategic decisions."
    The United States and EU have already imposed tariffs on
billions of dollars of each others' goods over a row about state
subsidies provided to civil aviation firms Boeing  BA.N  and
Airbus  PA.N . Those tariffs remain in place.
     British trade minister Liz Truss has repeatedly spoken out
against the measures, earlier rounds of which have hit British
exports such as Scotch whisky. Germany has also recently called
for a quick resolution to the dispute.
    The British decision to suspend tariffs on U.S. goods from
Jan. 1, once Britain fully leaves the EU, upset European
planemaker Airbus and exposed a growing rift between the UK and
Europe over aerospace investment, industry sources and analysts
said.  urn:newsml:reuters.com:*:nL1N2IP2H8
        

 (Reporting by William James; Editing by Simon Cameron-Moore)
 ((william.james@thomsonreuters.com; +44 207 542 3374; Reuters
Messaging: william.james.thomsonreuters.com@reuters.net))
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