EU-US TRADE DISPUTE ESCALATES


04/10/2019




Selin ATAY-TDO-European Union (EU) Commission President Jean-Claude Juncker made the remarks on the Boeing-Airbus dispute and possible trade war between the EU and the US, which has been going on for nearly 15 years, during a program organized by the US Chamber of Commerce in Brussels.

The World Trade Organization on Wednesday gave Washington the greenlight to slap tariffs on $7.5 billion (6.8 billion Euros) worth of EU goods in retaliation for the bloc's illegal support of Airbus.

"If the US decides to impose WTO authorized countermeasures, it will be pushing the EU into a situation where we will have no other option than do the same," Brussels said in a statement.

"Trade wars start easily, escalate rapidly, but often end badly," said Juncker, noting that mutual trade between the EU and the US influences people's lives more directly than trade numbers .Juncker stressed that Europe has always advocated mutual, equal, fair and free trade, noting that trade wars will have negative effects wherever they occur.

The ruling is the largest arbitration award in WTO history and a landmark moment the 15-year long Airbus-Boeing battle, which threatens to intensify already strained trade relations between the US and the European Union.

The case began in 2004, when Washington accused Britain, France, Germany and Spain of providing illegal subsidies and grants to support the production of a range of Airbus products.

 


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