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European businessmen call on EU and the US to prevent a trade war

Business Europe said that thousands of small and medium-sized enterprises in the EU and the US “were right on the line of fire”

Photo: REUTERS / Yves Herman

The Association of Industrialists and Entrepreneurs of the European Union BusinessEurope has opposed the use of trade tariffs as a tool for resolving a dispute between the aviation industries of the USA and Europe.

The statement came after the announcement of the World Trade Organization's (WTO) decision on subsidies to aircraft manufacturers.

The association called on politicians to reconsider dispute resolution practices related to Airbus and Boeing. Tariffs will not only damage the aircraft industry and its suppliers but will also have a negative impact on a number of other industries in the EU and the USA.

“Even if the United States, in accordance with the WTO decision, can legally introduce EU import tariffs, this will only exacerbate tensions between the two main world trade blocs,” Markus Beirer, the association’s director-general, said in a statement.

According to him, thousands of small and medium-sized enterprises in the EU and the US “were right on the line of fire, and this will be a losing situation for everyone.”

“Instead, the EU and the US should use the decision (WTO) as a chance to return to a positive agenda and agree on rules on subsidies in the aircraft industry,” he said.

Recall that on October 2, the WTO allowed the United States to levy duties on European exports of a total of $7.5 billion in response to illegal subsidies by the European Union aircraft manufacturer Airbus SE.

In turn, Brussels accuses Washington of subsidizing Boeing, and this dispute within the WTO has been going on for 15 years.

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