The European Union is preparing retaliatory tariffs against the United States over subsidies to Boeing Co., significantly escalating transatlantic trade tensions hours after Washington vowed to hit the EU with duties over its support for Airbus SE.
An Airbus A350-1000 conducts a test flight over the Chateauroux airport in central France in February.
European officials underscored the option of reaching a negotiated solution with the U.S. that would avoid an escalation with tit-for-tat tariffs. Airbus said in a statement that the U.S. tariff threat was “totally unjustified” and that it had taken “all necessary measures” to comply with the WTO ruling regarding illegal aid.
“It’s in the interests of the U.S. and the EU to find a friendly accord on the issue of penalties in the airplane sector,” French Finance Minister Bruno Le Maire told reporters in Paris on Tuesday. “When I see slowing world growth, I don’t think that we can afford a trade war, even if it’s just in one industrial sector.”
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