Advertisement

Updated February 15th, 2020 at 20:01 IST

Airbus 'deeply regrets' increase of US tariffs, says it creates 'more instability'

Airbus has said in a statement on February 15 that it “deeply regrets” the increase in tariffs to 15 per cent on its planes imported in the US from Europe.

Reported by: Aanchal Nigam
Airbus
| Image:self
Advertisement

European multinational aerospace corporation, Airbus has said in a statement on February 15 that it “deeply regrets” the increase in tariffs on its planes imported in the United States from Europe. The company further said in a statement that Washington's decision to further increase the tariffs to 15 per cent from March 18 has escalated the tensions regarding trade between the US and the EU. Airbus also cited “more instability” for the American airlines which are reportedly struggling with the shortage of aircraft. 

According to the official website, Airbus said, “USTR’s decision to impose tariffs further escalates trade tensions between the US and the EU, thereby creating more instability for US airlines that are already suffering from a shortage of aircraft.”

Read - Airbus Shows Loss For 2019 Due To Big Bribery Settlement

Airbus-US discussions will be continued

The recent increase of US duties on Airbus imports which were at 10 per cent since October when Washington imposed $7.5 billion of European products. The recent statement by Airbus also said that the discussions between the US and the company will continue to take place. It further added that the US “ignores many submissions” made by the American airlines to call attention to the fact that the administration along with the public who flies on these planes will have to pay for the tariffs imposed by the White House. 

Read - Sri Lanka Arrests Former Airline Chief Over Airbus Kickback Claims

Airbus also added that it would continue to have discussions with its American customers along with the government in order to end the 15-year long dispute. However, the company also acknowledged that any further escalation by the US will complicate the efforts to find a “negotiated outcome” and therefore, called it “regrettable”. However, the European company is sure that the position of US will change after the World Trade Organisation “will authorize” the EU to impose tariffs of America's Boeing aircraft including 737 Max, 787, and 777 in May or June 2020. 

The statement said, “ Airbus has and will continue to push for a negotiated settlement to this 15-year-long dispute. USTR’s further escalation complicates efforts to find a negotiated outcome to this dispute. This is regrettable.”

The United States imposed tariffs worth $7.5 billion on European goods in October 2019 including Airbus, French wine and Scottish whiskeys despite the request from the European officials to reprieve it last minute along with the warning of retaliation. The World Trade Organisation ruled that the US can impose tariffs on European goods annually because the European government had given illegal subsidies to Airbus.  

Read - Airbus Closes China Plant Due To Coronavirus

Read - AirAsia's Tony Fernandes Denies Link Between Airbus Bribery Scandal & His Former F1 Team

Advertisement

Published February 15th, 2020 at 20:01 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement

Trending Quicks

INDI Seals Seat-sharing Deal in Bihar, RJD to Contest on 26 Seats, Cong 9
7 minutes ago
Bengaluru Man Tragically Dies After Friend Pumps Hot Air Into His Rectum For Fun
10 minutes ago
Sunita Kejriwal urged people to send ‘messages of support’ to Delhi CM
12 minutes ago
Congress Press Conference
12 minutes ago
Kamlesh Awasthi
14 minutes ago
Adani Green Adopts Robotics for Solar Module Maintenance
26 minutes ago
Electric Vehicle
29 minutes ago
Lok Sabha Elections 2024 LIVE
29 minutes ago
A poster of Crew
34 minutes ago
"We never celebrated Holi after the incident (the murder), I felt that today is Holi for us,” Alka Rai, wife of formerBJP MLA Krishnanand Rai said.
37 minutes ago
Advertisement
Advertisement
Advertisement
Whatsapp logo