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US mulls tariffs on EU imports

The US is likely to impose tariffs worth $7 billion on imports from the EU. The proposed tariffs are connected to a 14-year dispute over rival aircraft subsidies involving American firm Boeing and European firm Airbus.

The list of EU imports that may see duties includes handbags, sweaters, vests made from wool, cashmere from Kashmir goats and cotton, and apparel items like men’s and boys’ suits, women’s and girls’ cotton pajamas, cheese, liquor and food items. A World Trade Organization ruling found that Boeing rival Airbus had received illegal funding for several of its aircraft models. In the dispute, which began in 2004, the United States argued that the EU gave Airbus billions of dollars of launch aid that resulted in an unfair advantage for Airbus. Specifically, the United States asserted that the aid allowed Airbus to gain market share in Europe, Australia, China, South Korea, and elsewhere.

Meanwhile the US is still trying to resolve its trade dispute with China. And there have been rumblings that the US might be targeting Vietnam. The southeast Asian country has seen some benefit from the US-China trade war as apparel firms look elsewhere–with Cambodia and Bangladesh in the running, too–for sourcing and manufacturing production.