© Reuters.

WASHINGTON (Reuters) -The U.S. government on Wednesday said it would raise tariffs on certain European Union products, including aircraft components and wines from France and Germany, the latest twist in a 16-year battle over aircraft subsidies between Washington and Brussels.

In a statement, the Office of the U.S. Trade Representative (USTR) said it was adding tariffs on aircraft manufacturing parts and certain non-sparkling wines as well as cognacs and other brandies from France and Germany.

The USTR did not say when the tariffs would take effect but noted that additional details would be “forthcoming.”

The U.S. action comes as U.S. and European negotiators continue talks about ending the long-runnig dispute over government aid to Europe’s Airbus SE, which is politically backed by Britain, France, Germany and Spain, and U.S. aid to planemaker Boeing (NYSE:) Co.

The USTR said on Wednesday the EU had unfairly calculated tariffs against the United States allowed by a September World Trade Organization ruling in the ongoing dispute: “The EU needs to take some measure to compensate for this unfairness.”

Representatives for the European Union and Airbus could not be immediately reached for comment on the USTR action.

Ben Aneff, president of the US Wine Trade Alliance, said the action would cause further hardship for U.S. companies already hit hard by previous tariffs, and urged President-elect Joe Biden to quickly reverse course.

“This action is a body blow for American companies. U.S. restaurants and small businesses are already struggling to survive; this decision will only destroy more jobs and shutter more doors,” said Aneff, managing partner of Tribeca Wine Merchants in New York City.

READ  Jeffrey Epstein jail guards get deferred prosecution deal in suicide case

Emily Haber, Germany’s ambassador to the United States, this month urged quick action to resolve the dispute, calling it a distraction from bigger issues that require joint action such as climate change and the pandemic.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Please enter your comment!
Please enter your name here