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US increases punitive taxes on Airbus aircraft from 10% to 15%

UNITED STATES (OBSERVATORY NEWS) — The United States announced on Friday that it will raise the rate of punitive customs taxes imposed on Airbus aircraft imported from Europe from 10% today to 15% as of March 18.

In October, the administration of US President Donald Trump imposed a 10% tax on European Airbus aircraft as part of punitive measures that targeted $ 7.5 billion in European exports to the United States.

The new increase, revealed by the US Trade Representative’s office in a statement, comes a few days after Trump announced that it was time to negotiate “with great seriousness” a trade agreement with the European Union.

On Monday, Trump said in a speech at the White House that “Europe treats us very badly”, expressing his regret for the “huge deficit” that has been recorded in the trade balance between Washington and Brussels “during the last ten or 12 years”, in addition to “customs barriers that exceed every imagination.”

The President urges the European Union member states to legislate their markets more in front of American products, especially agricultural products.

Trump and European Commission President Ursula von der Lyen announced at the end of January, at the end of a meeting in Davos, their intention to revive the transatlantic economic workshop and reach an agreement within weeks.

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