ZVEI: Trade dispute in the Airbus Boeing case must be settled quickly

• Retaliatory tariffs announced by the USA continue to affect industries beyond the actual dispute 
• Retaliatory tariffs on electric power tools remain in place at 25 percent

ZVEI calls on the EU and the USA to settle the trade disputes in the Airbus-Boeing case quickly. Furthermore, ZVEI criticises that yesterday's announcement by US Trade Representative Robert Lighthizer did not abolish the existing tariffs and thus no de-escalation in the dispute over aircraft subsidies can be expected. "These retaliatory tariffs are causing great economic damage to every company affected, regardless of its size," explains Michael Angerbauer, customs expert at ZVEI.

Parts of the electrical industry, such as electric power tools, will continue to be affected by the tariffs, even though they are not related to the Airbus-Boeing dispute. "The fact that products, such as electric power tools, continue to be subject to retaliatory tariffs of 25 percent highlights the tense transatlantic trade relations," Angerbauer says. "Instead of further escalation, both sides should make constructive efforts to comply with the rules of the World Trade Organisation."

Especially in times of severe economic crisis across the US and Europe, relations should not be further strained. The basis for an agreement could be the concessions made by Airbus in July 2020 and the law on subsidies in civil aviation passed in Washington State. Angerbauer: "The conflict must be quickly resolved. Otherwise, the next escalation level could be reached in early autumn when the World Trade Organisation grants the EU the right to impose tariffs on US products.”