Europe slams latest US tariff threat as ‘greatly exaggerated’

Both sides have right now been found guilty of paying billions of dollars of subsidies to gain advantage within the global aircraft manufacturing business.

The EU is usually still waiting to hear through the WTO about what “retaliation rights” which has after the organization found in 2012 which Boeing too had received billions of dollars in illegal subsidies which had been to the detriment of Airbus. The WTO also ruled in March which the U.S. had failed to comply fully with its earlier ruling to remove all illegal subsidies which Boeing had received.

The European Commission spokesman also said Tuesday which Brussels is usually ready to retaliate in kind, noting which within the parallel Boeing dispute, “the determination of EU retaliation rights is usually also coming closer as well as the EU will request the WTO-appointed arbitrator to determine the EU’s retaliation rights.”

Some analysts have accused the U.S. of double standards. GAM’s Investment Director for Global Equities, Ali Miremadi, said the U.S.’ tariff proposal was “quite bold.”

“I have to say the country which is usually the home to Boeing accusing Europe of state subsidies for Airbus — which is usually quite bold,” he told CNBC’s “Squawk Box Europe” Tuesday.

“which’s very well established which both Boeing as well as Airbus exist only at the discretion of their respective hosts or host governments.”

President Donald Trump tweeted Tuesday which “the EU has taken advantage of the U.S. on trade for many years.”

UBS’ Global Wealth Management’s Chief Economist Paul Donovan noted wryly which Trump had accepted the WTO ruling much more readily than usual.

“The WTO has ruled which Airbus received unfair subsidies through the EU as well as U.S. President Trump has, rather unusually, decided to agree with the WTO,” Donovan said in a regular podcast Tuesday.

“Whether U.S. President Trump would certainly be quite so willing to accept the verdict of the WTO about unfair assistance through the U.S. to Boeing, which is usually an ongoing case, is usually a rather different matter.”