Trump threatens to impose $US11b tariffs on Europe, IMF downgrades Australian economy

US proposes tariffs on $11bn of EU products

The United States is planning $11 billion of tariffs on goods from the European Union - including aircraft, aircraft parts, motorcycles, cheese and wine - to counter the harm that it claims has been caused to Boeing by its subsidies for Airbus.

The Trump administration announced the additional levies on EU goods - including roquefort and stilton cheese, wine and aircraft parts - as a response to subsidies for Airbus, the European aerospace and defence group, which it said were harmful to the US. The USTR said that the value of the products that are proposed to be hit by tariffs is subject to an arbitration at the WTO.

The US Trade Representative on Monday proposed a range of European Union products, from large commercial aircraft and parts to dairy products and wine, to target as retaliation for subsidies given to Airbus.

European Commission finds the US proposal "greatly exaggerated" and is preparing its own list of products, which, likewise, include large commercial aircraft (hint: Boeing) and parts, Reuters reported on April 9, 2019, quoting a "source" inside the Commission.

The EU is already facing U.S. tariffs on its steel and aluminium exports and U.S. President Donald Trump has repeatedly threatened to hit EU cars with punitive duties.

The European Union and the United States have for years disputed each other's reciprocal subsidies to Airbus and Boeing, long predating Trump's 27-month presidency.

The trade watchdog said last month that the United States had failed to stop giving Boeing illegal tax subsidies in Washington State, but cleared it of other allegations.

The European Union is preparing retaliatory tariffs against the USA over subsidies to Boeing Co., significantly escalating transatlantic trade tensions hours after Washington vowed to hit the EU with duties over its support for Airbus SE. The U.S. says the move is in response to subsidies given to Boeing Co. rival Airbus SE.

More news: IPhone XR to become cheaper for Indian consumers starting tomorrow - conditions apply

"The EU has taken advantage of the USA on trade for many years".

The list of products the USA will add tariffs on does not take into account Brexit as British products including Stilton cheese, woollen jumpers and kitchen knives.

The EU responded Tuesday to the U.S.'s latest call for new tariffs by noting that it was based on its own estimate, not anything it had been awarded by the WTO. Trump said on Twitter.

"Boeing has not shown any willingness to comply with the March 28, 2019, WTO decision regarding the massive subsidies received by Boeing that are clearly contravention of WTO rules", she said.

Last year, the U.S. started charging levies on the imports of steel and aluminium from key allies including the EU.

"The new tariffs. are a drop in the ocean as a percentage of the overall trade between the USA and Europe and we view them as a negotiating tool to set the tone for what the really important negotiations are, namely autos", she said.

Germany is particularly apprehensive of possible US tariffs on auto imports.

Related News:

  • ‘Incompetently Botched’: George Conway Roasts Trump for Messy DHS Secretary Departure

    ‘Incompetently Botched’: George Conway Roasts Trump for Messy DHS Secretary Departure

    Officials recently said it could take two years to identify potentially thousands of children and parents separated at the border. Trump abandoned that policy a year ago in the face of widespread public outrage, and it was subsequently struck down in court.
    Why Samsung Is Getting Hammered By Eroding Profits

    Why Samsung Is Getting Hammered By Eroding Profits

    Park Jung-ho, CEO of SK Telecom, attends a launching ceremony for its 5G service, in Seoul, South Korea, April 3, 2019 . For Samsung, the early mover tag in 5G gives a major lead over Apple Inc by at least one-and-a-half years.
    'Joker' Teaser Trailer Released

    'Joker' Teaser Trailer Released

    I'm excited to see what director and co-writer Todd Phillips has in mind for this latest incarnation of the Joker . Ledger, for his part, walked away with an Academy Award for Best Supporting Actor for his efforts in 2009.
  • Man Utd boss Ole Gunnar Solskjaer buys wholemeal bread and Pepsi Max

    Man Utd boss Ole Gunnar Solskjaer buys wholemeal bread and Pepsi Max

    I am sure next season they will be candidates for the Premier League , and this year for the Champions League ". I only think about the present and knocking United out".
    An Everglades record: largest female python captured in Big Cypress

    An Everglades record: largest female python captured in Big Cypress

    Officials say this is the largest python ever removed from Big Cypress National Preserve and was caught using radio transmitters. Even in December an 18 foot long and 150 pound weighing python was found in Everglades, and it took 45 minutes to eliminate it.
    Pakistan to release 360 Indian prisoners as tensions ease

    Pakistan to release 360 Indian prisoners as tensions ease

    U.S. defence department said it was "not aware" of any investigation that was conducted to ascertain if Pakistan had lost an F-16. He was captured by the Pakistani army and released days later in an effort to deescalate the crisis.
  • New Jersey Transit Blames Long WrestleMania For Travel Issues

    New Jersey Transit Blames Long WrestleMania For Travel Issues

    Straight after Kingston won the title, his New Day team-mates swarmed him as the WWE Universe went into raptures. " WWE outdid themselves by creating an even more exciting WrestleMania than we experienced six years ago".
    Pakistan accuses India of plotting fresh military attack

    Pakistan accuses India of plotting fresh military attack

    A Pakistan foreign ministry report on evidence provided by India raised further doubts about the veracity of the intelligence. Some in India said between 200 and 300 people were killed in the strikes on Jaish-e-Mohammed.
    Trump is 'not concerned' about Chinese espionage at Mar-a-Lago

    Trump is 'not concerned' about Chinese espionage at Mar-a-Lago

    While speaking to reporters Wednesday, the president said the incident was a "fluke situation". Zhang faces a charge of trespassing and a charge of lying to federal agents for that attempt.
  • RIP: Google Stops Selling the Pixel 2 and Pixel 2 XL

    RIP: Google Stops Selling the Pixel 2 and Pixel 2 XL

    In his spare time, when he is not playing computer games, you will see him writing reviews on different tech products or games. Google will still update them with Android Q this summer, although it's not clear if they'll receive more updates afterward.
    Windows 10 May 2019 Update announced, and major update changes

    Windows 10 May 2019 Update announced, and major update changes

    This update will be released to Windows Insiders first, who will test it for a month before it is made publicly available in May. You can find more details about the new Windows 10 update features here, though we've listed below the key features.
    Liverpool motivated to win Premier League, says Sadio Mane

    Liverpool motivated to win Premier League, says Sadio Mane

    Spurs are now on a five-game winless run in the Premier League with their last victory coming against Leicester City in February. But, as a result, pragmatism is kicking in and City look happy enough to just win games rather than run up cricket scores.


Most liked

Meghan Markle Won’t Make Public Appearances Before Baby’s Birth For This Reason
Do Meghan Markle and Prince Harry's Baby Photos Reveal What Baby Sussex Will Look Like? . They dated for about a year and a half before Harry was ready to propose.

PM Narendra Modi biopic hearing postponed by Supreme Court to Tuesday
He alleged that the movie is a "propaganda vehicle being timed to release in coordination with the upcoming elections". This Modi film hasn't received a Censor certificate yet, and hence the release date of April 5 had to be pushed ahead.

Attorney General Barr tepidly backs DOJ's position to no longer defend 'Obamacare'
The almost 400-page report is being scoured now to remove grand jury information and details relating to pending investigations. This is his first public appearance since releasing his four page summary of the Mueller report.

Billy Ray Cyrus makes statement with Lil Nas X collaboration
After Lil Nas X delivers his memorable bars, Cyrus closes out the song echoing lyrics about luxurious cars and jewelry. The song originally charted on Billboard's Hot 100 , Hot Country and Hot R&B/Hip-Hop charts simultaneously in March.

Samsung’s ultimate goal is to create "perfect full-screen" phone
By moving the camera under the screen, it would remove the need for any kind of cutout on the front display. Samsung is gearing up to release its second Android Go smartphone like the Galaxy A2 Core.

'The King is back!' - Liverpool fans rejoice as Salah ends drought
Manchester City are and will be the dominant force in English football for years to come. Physical things are always there, but how he stays always calm.it's a nice moment.

Libya's GNA forces announce 'counteroffensive' to defend Tripoli
The sides have been in an uneasy truce since shortly after Gaddafi's downfall but the country now risks falling into civil war. Italy's foreign minister said Haftar must listen to warnings from the worldwide community to halt his advance on Tripoli.

Kit Harington's Brother Perfectly Referenced Jon Snow In His Best Man Speech
That's probably why his own brother found a way to work it into his Best Man speech, because brothers are reliable like that. On Wednesday, Kit slipped into his best evening wear as he attended the premiere of Game of Thrones season eight in NY .

Measles cases rise; residents advised to take precautions
There are now 15 measles cases so far this year in Texas, and the total number nationwide already tops all of last year. This is the second-greatest number of cases reported in the United States since measles was eliminated in 2000.

Amazon Launching Alexa-Powered AirPod Killer This Year
Bloomberg's Mark Gurman reports that Amazon is working on its own version of Apple's popular AirPods wireless headphones. According to a new report, Amazon plans to ship Alexa-powered wireless earbuds in late 2019 to take on Apple's AirPods .

The Definitive Guide to the Game of Thrones Family Tree
I said to myself, 'I will not be paralysed.' I moved my fingers and toes to make sure that was true. "But I knew I was faltering.

Ethiopian jet’s data record deepens concern about 737 MAX safety procedures
Boeing announced on Wednesday that it had developed software updates to "prevent erroneous data from causing MCAS activation". In the wake of the crash in Ethiopia, all 737 MAX planes have been grounded worldwide.

Second software problem detected in Boeing 737 Max
Boeing is working on a software upgrade for the maneuvering system MCAS, as well as training courses for 737 MAX pilots. Muilenburg is confident that the fix will prevent crashes of 737 MAX aircraft as a result of the faulty MCAS function .

Deadline looms for Smollett to pay city investigative costs
Chicago's WLS-TV reports that three associations representing suburban police chiefs voted to express "no confidence" in Foxx. Smollett had seven days to cough up the dough before the city of Chicago filed their lawsuit against the actor.

Compelling Chinese firms to buy American could increase U.S. vulnerabilities
China's Commerce Ministry didn't immediately reply to faxed questions. "If we have a deal, then we'll have a summit", Trump said. While some progress is being made, resolving more contentious issues such as the forced transfer of technology is taking longer.