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EU threatens tariffs on US ketchup and cheese over boeing subsidies



The bloc released a list of American products worth around $ 20 billion on Wednesday that could be targeted over US subsidies given to Boeing ([19459004BA] ) .

"We still believe that dialogue is what should prevail," said Cecilia Malmström, Europe's top trade official, in a statement.

A spokesperson for the European Commission said that while the products in the broad target list represents US exports worth $ 20 billion, any retaliatory action would hit a smaller subsection of goods.

The European Union estimated in 2012 that the damage from Boeing's subsidies was roughly $ 12 billion.

 Europe is ready to discuss trade with the US, but talks may already be doomed

Holger Schmieding, chief economist at Berenberg Bank, said that the measures threatened by the United States and the European Union would "not hurt" [global]. ] economic outlook by much. "

The fight over air subsidies has been running for 15 years.

EU authorities said in 2004 that Boeing received $ 19 billion in unfair subsidies from federal and state governments between 1989 and 2006. The US government filed a similar claim over the year over subsidies to Airbus.

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Officials of both sides have stressed that the fight against air subsidies is not related to other trade disputes. But the threats are at a very sensitive time for transatlantic trade.

The European Union on Monday agreed to restart the trade talks with the United States, despite strong objections from the French President Emmanuel Macron.

Any negotiations would face an immediate hurdle: The European Union says agriculture will not be up for discussion , while the United States insists it should be part of discussions.

The trade relations between the two sides is worth more than $ 1 trillion annually, but Europe exports substantially more goods to the United States than the other way around.

That has been a sticking point for President Donald Trump, who is still considering whether to impose tariffs of up to 25% on European vehicle imports.

The United States has already imposed tariffs on European steel and aluminum exports.

The European Union retaliated with tariffs is more than $ 3 billion worth of American exports in June. The levies hit products such as motorcycles, orange juice, bourbon, peanut butter, cigarettes and denim.


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