Salem Radio Network News Thursday, February 27, 2020

Business

U.S. raises tariffs on European-built aircraft in ongoing dispute over subsidies

WASHINGTON (Reuters) – The U.S. government on Friday said it would increase tariffs on aircraft imported from the European Union to 15% from 10%, ratcheting up pressure on the EU in a 16-year transatlantic dispute over aircraft subsidies.

USTR said it remained open to reaching a negotiated settlement with the EU on the issue, but could revise its actions if the EU imposed tariffs of its own in connection with a pair of disputes over aircraft subsidies.

In a statement released late on Friday, USTR said it would rotate additional 25% tariffs to different non-aircraft products from the EU, but would not raise the tariff rate, as it had suggested it might do in October.

(Reporting by Andrea Shalal and Makini Brice; Editing by Daniel Wallis)

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