Airbus CEO urges trade war ceasefire, easing of COVID travel bans

Airbus CEO urges trade war ceasefire, easing of COVID travel bans

Airbus CEO urges trade war ceasefire, easing of COVID travel bans
© Reuters. FILE PHOTO: Airbus CEO Guillaume Faury

By Tim Hepher

PARIS (Reuters) – The head of European planemaker Airbus called on Saturday for a “ceasefire” in a transatlantic trade war over aircraft subsidies, saying tit-for-tat tariffs on planes and other goods had aggravated damage from the COVID-19 crisis.

Washington progressively imposed import duties of 15% on Airbus jets from 2019 after a prolonged dispute at the World Trade Organization, and the EU responded with matching tariffs on Boeing (NYSE:) jets a year later. Wine, whisky and other goods are also affected.

“This dispute, which is now an old dispute, has put us in a lose-lose situation,” Airbus Chief Executive Guillaume Faury said in a radio interview.

“We have ended up in a situation where wisdom would normally dictate that we have a ceasefire and resolve this conflict,” he told France Inter.

Boeing was not immediately a

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *