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AFP
February 16, 2020

Airbus deeply regrets US tariff hike

Business

AFP
February 16, 2020

Washington: The United States is increasing tariffs on Airbus planes imported from Europe to 15 percent, authorities announced, in a move the aerospace giant said on Saturday was "deeply" regrettable.

Friday´s decision to hike tariffs from March 18 "further escalates trade tensions between the US and the EU", the European aerospace giant said in a statement, adding it creates "more instability for US airlines that are already suffering from a shortage of aircraft."

The announcement from the office of the United States Trade Representative (USTR) came just days after President Donald Trump said it was time to talk "very seriously" about a trade deal with the European Union.

Duties have been at 10 percent since October, when Washington hit European products worth $7.5 billion with tariffs.

"Airbus deeply regrets USTR´s decision to increase tariffs on aircraft imported from the EU as well as the decision to maintain tariffs on goods from other sectors," the company said, referring to products -- including wine, cheese, coffee and olives -- which have been taxed at 25 percent since October.

The latest decision also "ignores the many submissions made by US airlines, highlighting the fact that they -- and the US flying public -- will ultimately have to pay these tariffs," it added.