US refuses to cut EU fares in row of Airbus subsidies – Business Live | Business

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Photograph: David Burton / Alamy Stock Photo

Hello and welcome to our continued coverage of the global economy, financial markets, euro area and business.

Scotch whiskey makers may be in need of a quick drink this morning, after hopes of a breakthrough between the United States and Europe on tariffs have faded.

Overnight, the U.S. government announced it would maintain 15% tariffs on Airbus planes in an ongoing dispute over aircraft subsidies. It also maintains tariffs of 25% on a range of European products announced last October, including wine, single malt whiskey, olive oil and cheese.

Reuters has the details:

US Trade Representative Robert Lighthizer said the EU had failed to take the necessary steps to comply with World Trade Organization rulings and that Washington would launch a new process to try to find a long term solution.Lighthizer’s office said it would amend its list of $ 7.5 billion of affected European products to remove certain goods from Greece and Britain, adding an equivalent amount of goods from Germany and France.



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