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Brexit raises stakes for Britain in aircraft trade war

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U.S. tariffs on European goods have plunged Britain into a trade war between the European Union and United States just as it plans to leave the 28-nation bloc, infuriating Scotch whisky makers and handing it a dilemma over thousands of Airbus (AIR.PA) jobs.

Axar.az reports citing Reuters.

The United States has pledged tariffs on goods worth $7.5 billion a year in a dispute over Airbus subsidies from Oct. 18, days before Britain’s planned end-October exit. And the EU is due to hit back in a parallel case concluding next spring.

Britain - which builds wings for Airbus jets and has been found to subsidize the jetmaker alongside France, Germany and Spain - said it was seeking confirmation from the WTO that it had obeyed its rulings and should not be subject to tariffs.

Barring a settlement or an end to seven years of argument over whether Europe has complied with earlier WTO findings - neither of which looks imminent, according to trade sources - tariffs could start to bite as Britain plans to leave the EU.

The timing rankles with some executives at firms in other industries hit by the new U.S. tariffs, compounding their frustration at having to pay for the misdeeds of plane giants.

“It throws up enormous uncertainty. With that realignment of allegiances going on, it is surprising that something as uniquely geographical as Scotch whisky is targeted by the Americans,” said Edward Odim, managing director of Aceo Ltd, an independent Scotch whisky supplier.

Date
2019.10.04 / 10:52
Author
Axar.az
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