'It will soon stop!': Trump ramps up feud with EU
BRUSSELS/PARIS/WASHINGTON - U.S. President Donald Trump said on Tuesday the United States would impose tariffs on $11 billion worth of European Union products, heightening tensions over a long-running transatlantic aircraft subsidy dispute that threatens to become a broader trade battle.
"The World Trade Organization finds that the European Union subsidies to Airbus has adversely impacted the United States, which will now put Tariffs on $11 Billion of EU products!" Trump said on Twitter."The EU has taken advantage of the U.S. on trade for many years. It will soon stop!" "The Commission is starting preparations so that the EU can promptly take action based on the arbitrator's decision on retaliation rights in this case," a Commission spokesman said."The European Union remains open for discussions with the United States, provided these are without preconditions and aim at a fair outcome."
The EU is already facing U.S. tariffs on its steel and aluminum exports and Trump has repeatedly threatened to hit EU cars with punitive duties. Airbus fell nearly 2 percent, while Boeing dropped 1.5 percent. Airbus suppliers such as Safran and Leonardo also were down."Get ready for more tit-for-tat scrapping to follow," said John Woolfitt of London brokerage Atlantic Markets.
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