The European Union has begun preparations to retaliate over Boeing subsidies, an...
BRUSSELS/PARIS - The European Union has begun preparations to retaliate over Boeing subsidies, an EU official said on Tuesday, a day after Washington listed EU products it plans to hit with tariffs in their aircraft dispute.
“In the parallel Boeing dispute, the determination of EU retaliation rights is also coming closer and the EU will request the WTO-appointed arbitrator to determine the EU’s retaliation rights,” the Commision source said, adding the Commission was preparing so that it could take action after the arbitrator’s decision.
French Finance Minister Bruno Le Maire told a conference in Paris that the two sides needed to reach a friendly agreement. At 0950 GMT, Airbus shares were down 1.6 percent. Airbus suppliers such as Safran and Leonardo lost between 1.0 percent and 1.2 percent. MTU Aero Engines was 2.5 percent weaker and Rolls-Royce down 1.3 percent.
German engineering lobby group the VDMA, which represents major exporters, said the European Union should swiftly move to negotiate a free trade agreement with the United States.
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