VDMA: US tariff increase sends fatal signal
Trade barriers should be removed in the fight against the corona crisis. The increase in US duties on aircraft imports sent the completely wrong signal.
Ulrich Ackermann, head of VDMA foreign trade, explains the consequences of the increase of US customs duties on aircraft imports from the EU:
"The increase in US tariffs on aircraft imports from the EU sends a fatal signal, even though it is covered by the World Trade Organisation (WTO) arbitration ruling on Airbus subsidies. In order to get out of the paralyzing corona crisis, the trade barriers must be dismantled and not built up further. In this respect, US President Trump is once again sending out a completely wrong signal.
"In order to get out of the paralyzing corona crisis, trade barriers must be dismantled, not built up further."
The opportunity for a constructive course to solve the transatlantic trade problems has been missed once again. In a few weeks, the European Union will also be allowed to impose WTO-compliant punitive tariffs on Boeing aircraft. A good signal of relaxation in transatlantic relations, however, would be an agreement that regulates state aid for the civil aircraft industry on a bilateral basis.