(03 December 2019)DAILY MARKET BRIEF 2:Airbus: WTO Rules US Should Reduce Tariffs by About $2 Billion

Airbus SE (AIR.FR) said that the World Trade Organization ruled the U.S. should immediately reduce the $7.5 billion tariffs authorized in October by around $2 billion. The France-based plane maker said the WTO found "the loans for the development of the A380 no longer have an impact on Boeing sales and that therefore the value of the lost sales no longer exists." However, the WTO found that the European Union "maintained illegal subsidies" for Airbus, rejecting for a second time the bloc's claim that it has complied with the trade body's rules. In October, the WTO authorized the U.S. to slap duties on $7.5 billion worth of European exports annually, until the EU complies with its rulings.

By Vincent Mivelaz