Beverage Importers Call for Airbus-Boeing Truce
European wine and spirits imports have been hurt more than any other industry outside aerospace in the Airbus-Boeing dispute, and the trade group representing those importers is asking for Europe and the U.S. to agree to a 180-day truce and serious settlement negotiations. The National Association of Beverage Importers was reacting to the announcement that the European Union can add tariffs to $4 billion in U.S. exports; the U.S. is already taxing hundreds of European products at 25% as part of its retaliation for Airbus subsidies. Between 15% tariffs on aircraft and 25% tariffs on other products, the U.S. is targeting $7.5 billion in imports.
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NABI President Robert Tobiassen tried to parse the dueling press releases from the EU and the Office of the U.S. Trade Representative (see 2010130029) to see how likely a settlement could be, and drew comfort in the fact that USTR did not talk about additional compensation for past injury to Boeing.
The truce Tobiassen lays out would roll back the tariffs on $7.5 billion in European products and delay any tariffs on the $4 billion in U.S. exports. EU Trade Commissioner Valdis Dombrovskis also calls for a rollback of those tariffs to pave the way for a settlement.