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AIR - Airbus SE News Story

€112.72 -1.9  -1.6%

Last Trade - 18/06/21

Sector
Industrials
Size
Large Cap
Market Cap £76.05bn
Enterprise Value £78.34bn
Revenue £42.72bn
Position in Universe 14th / 839

UPDATE 1-Solution to disputes with EU over aircraft, metals 'within reach' - Tai

Thu 13th May, 2021 9:12pm
(Adds quotes, details on trade disputes with EU, Mexico,
Canada)
    By David Lawder
    WASHINGTON, May 13 (Reuters) - U.S. Trade Representative
Katherine Tai said on Thursday that she believes solutions to
trade disputes with the European Union on aircraft subsidies and
steel and aluminum "are within reach."
    Tai told the U.S. House of Representatives Ways and Means
Committee that she is "very serious" about resolving the 17-year
Boeing-Airbus World Trade Organization dispute over subsidies
within a four-month tariff truce due to expire this summer.
    On the transatlantic trade dispute over U.S. steel and
aluminum tariffs and EU retaliation against U.S. motorcycles,
whiskey and other products, Tai has tied any resolution to
addressing longstanding global excess production capacity for
those metals largely centered in China.  
    "We are also working to resolve the ongoing Boeing-Airbus
dispute and address the real problem of overcapacity in the
steel and aluminum sectors. Solutions to both are within reach,"
she said.
    The EU has threatened to double the tariffs on
Harley-Davidson  HOG.N  motorcycles, American whiskey and power
boats on June 1 if Washington maintains its "Section 232"
national security tariffs.
    Tai said she would meet next week with her Mexican and
Canadian counterparts to discuss a range of irritants under the
new U.S.-Mexico-Canada Agreement on trade that took effect last
year.
    Tai pledged to bring up two labor rights complaints with
Mexico at the meeting, involving allegations surrounding a union
contract vote at a General Motors pickup truck plant in Silao
and anti-union activity at the Tridonex auto parts factory in
Matamoros, which borders Texas.  urn:newsml:reuters.com:*:nL1N2N015S  urn:newsml:reuters.com:*:nL1N2MX1UN
    Tai also said she would raise issues at the USMCA Free Trade
Council meeting over U.S. access to Canada's dairy market, a
long running U.S.-Canadian lumber dispute, and Mexico's plans to
stop importing genetically modified corn and a ban on the
widely-used glyphosate herbicide.
    President Joe Biden's trade chief also told lawmakers that
the administration needs to rethink Trade Promotion authority --
the "fast-track" negotiating authority for trade deals that
expires on July 1 -- to make it more relevant to a U.S. economy
that is recovering from the COVID-19 pandemic.
    She declined to say when the administration would consider
an effort to renew the TPA authority, which is seen as crucial
to negotiating major new trade deals. Many Democrats in Congress
do not view new trade deals as a high priority and would rather
see the Biden administration step up enforcement of existing
trade agreements.  urn:newsml:reuters.com:*:nL1N2LH0TM    

 (Reporting by David Lawder, Editing by Franklin Paul and
Alistair Bell)
 ((David.Lawder@tr.com; +1 202 354 5854; Reuters Messaging:
david.lawder.thomsonreuters.com@reuters.net))
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