Rolling coverage of the latest economic and financial news, as America leaves tariffs on a range of European goods in a long-running row over aircraft subsidies * US leaves tariffs on Airbus, whisky and wine * But Washington resists even more tariffs 7.55am BST AIRBUS IS UNDERSTANDABLY DISAPPOINTED THAT ITS PLANES STILL FACE TARIFFS AT THE US BORDER, AFTER IT TOOK STEPS TO END THE SUBSIDY ROW. It is urging European politicians to take a hard line with America, with spokesman Clay McConnell saying. “Airbus profoundly regrets that, despite Europe’s recent actions to achieve full compliance, USTR has decided to maintain tariffs on Airbus aircraft — especially at a time when aviation and other sectors are going through an unprecedented crisis. Airbus trusts that Europe will respond appropriately to defend its interests and the interests of all the European companies and sectors, including Airbus, targeted by these tariffs.” 7.31am BST GOOD MORNING, AND WELCOME TO OUR ROLLING COVERAGE OF THE WORLD ECONOMY, THE FINANCIAL MARKETS, THE EUROZONE AND BUSINESS. U.S. Trade Representative Robert Lighthizer said the EU had not taken actions necessary to come into compliance with World Trade Organization decisions, and Washington would initiate a new process to try to reach a long-term solution. Lighthizer’s office said it would modify its list of $7.5 billion of affected European products to remove certain goods from Greece and Britain, adding an equivalent amount of goods from Germany and France. Related: Scotch whisky and French wine hit by $7.5bn US tariffs “The EU and member states have not taken the actions necessary to come into compliance with WTO decisions. The United States, however, is committed to obtaining a long-term resolution to this dispute. Related: Airbus takes final approach to settle 16-year WTO row with US “The Commission acknowledges the decision of the US not to exacerbate the ongoing aircraft dispute by increasing tariffs on European products.” European Opening Calls:#FTSE 6224 -0.89%#DAX 13061 +0.02%#CAC 5063 -0.20%#AEX 573 -0.31%#MIB 20377 -0.29%#IBEX 7295 -0.01%#OMX 1781 -0.45%#STOXX 3360 -0.10%#IGOpeningCall Continue reading...
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