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American and European tariffs have escalated again, from airplanes to yogurt.
Recently, the World Trade Organization arbitrated the case of "US v. EU subsidized Airbus" and approved the US to impose tariffs on EU imports of goods and services valued at about 7.5 billion US dollars (RMB 53.6 billion) annually.
Subsequently, the office of the United States trade representative issued a tax collection list immediately. What does this list contain? What impact will it have on Europe?
Overall, the list covers a wide range of topics, from airplanes to whiskey, coffee, cheese, frozen meat, butter, yogurt, clothing and blankets. Many European countries, including Britain, France, Germany and Spain, will be affected.
In addition to the 10% of the aircraft, other commodities are basically 25%. The tax plan will come into effect on October 18.
According to the office of the United States trade representative, this is the largest trade dispute arbitration ever held by the world trade organization. They also regard it as a historic victory.
As the loser of this lawsuit, the EU strongly opposes the US tax plan. In response to the arbitration, EU Trade Commissioner Malmstrom said that the U.S. approach was "short-sighted" and would be "counterproductive".
Not only competitors, but also the voice of anti-tax in the United States. After the tax plan was announced, American aviation companies voiced their concerns for the first time.
Delta Airlines said the U.S. tax plan would seriously damage the airline industry, hurt the interests of millions of employees, and affect the public travel of the American people. JetBlue pointed out that taxation would make the operation of the company even more difficult.
According to last year's trade volume, the EU is the largest export market and the second largest import market of the United States. The total import and export volume of the United States to the EU is 488 billion US dollars and 319 billion US dollars respectively. Once the U.S. tax plan comes into effect, it will mean an overall escalation of the trade war between the United States and Europe.
In response to the US plan to impose tariffs on products and services from the European Union, the chairman of the European Commission responded that if someone wants to levy taxes on the EU's aviation industry, the European Union will respond in the same way.
The chairman of the European Commission: the party who provoked the trade war will eventually suffer losses. Under the principle of fair competition and mutual benefit, Europe will always defend free and fair trade. If someone taxes our aviation industry, we will respond in the same way.