- Exports.USA threatens new tariffs to Spain, United Kingdom, France and Germany
- Trade war.Airbus gets rid of the tariffs that end up punishing the Spanish countryside
The European aeronautical manufacturer Airbus has announced this Friday that it has agreed with the governments of France and Spain to modify the contracts for the A350 aircraft . Thus it tries to "eliminate any justification" for tariffs imposed by the United States on the EU with the support of the World Trade Organization (WTO) due to public aid given to the aircraft manufacturer.
As explained by the company in information sent to the National Securities Market Commission (CNMV), after 16 years of litigation in the World Trade Organization (WTO), this is the last step to stop the long dispute and eliminate any justification for United States tariffs.
Airbus has pointed out that the tariffs imposed by the United States Trade Representative (USTR), authorized by the WTO, are hurting all affected industrial sectors, including US airlines, and adding to a very difficult environment that has caused the Covid-19 crisis.
To end this, the company eliminates the last conflict point and modifies the French and Spanish contracts to what the WTO considers the appropriate interest rate and assessment risk . The organization has ruled that the Reimbursable Launch Investment (RLI) contracts are a valid instrument for governments to partner with the industry by sharing the investment risks. "With this final move, Airbus is considered in full compliance with all WTO resolutions," the company has remarked.
EU calls for immediate withdrawal of US tariffs
As the European Commission has pointed out after the agreement was announced, this means that the European Union and the affected Member States - France, Spain and Germany, also known as the "Airbus Member States" - "fully" comply with the opinions of the World Trade Organization and any reason for the United States to maintain its countermeasures on exports from the European Union is removed.
The European Trade Commissioner Phil Hogan , said that tariffs "unjustified" on European products are not acceptable and has insisted that the United States withdraw "immediately".
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