Europe expects the WTO to give the US the green light to hit the EU with tariffs aimed at products valued at between US$5 billion and US$7 billion in a 14-year dispute over illegal aircraft subsidies, according to two European government officials.
US President Donald Trump’s administration is waiting for the WTO to give its final decision on the damages caused by prohibited European aid for Airbus SE, after which the US government would move immediately to impose the tariffs, said the officials, who asked not to be identified because the process is ongoing.
The WTO could issue its ruling as soon as this summer.
In addition to helicopters and aircraft parts, the US tariffs might also be aimed at goods such as cheese, olives and pasta — along with some types of whiskey — in what the two officials see as an effort to gain concessions from EU members to the US agricultural sector.
The measures would come on top of duties the US imposed on EU steel and aluminum exports a year ago over claims they posed a national-security threat.
The office of the US Trade Representative previously estimated the EU subsidies to Airbus cause about US$11 billion in economic harm to the US annually.
The EU has a similar case pending against Boeing Co and has already published a preliminary list of US goods — from ketchup to video-game consoles — being targeted in a US$12 billion plan for retaliatory levies.
While the EU has kept the door open to a settlement that would avoid tit-for-tat tariffs, European Commissioner for Trade Cecilia Malmstrom earlier this month signaled that she expected the duties to be imposed.
The simmering dispute threatens to push transatlantic relations to a new low and disrupt nascent negotiations launched a year ago to reach across-the-board cuts in industrial tariffs.
The EU has also said it is prepared to hit 20 billion euros (US$22.5 billion) of US goods with tariffs if Trump follows through on a threat to impose duties on European cars and car parts.
Just a few years ago, the millennial generation — generally defined as those born from the early 1980s through the mid-1990s — was synonymous with youthful rebellion. However, now, as the millennials ease into early middle age, they are finding their path out of their parents’ basement to be a lot harder than it was for earlier generations. The fundamental problem is that millennials are not building wealth. The wealth of the median US household headed by someone 35 or younger has actually shrunk in inflation-adjusted terms since the mid-2000s, even as the wealth of older Americans has continued to grow. An
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range