Europe’s Airbus is set to increase loan repayments to Spain and France in an effort to reverse US tariffs and settle a 16-year old dispute regarding aircraft subsidies between the countries. The US won World Trade Organization authorization last year to impose a tariff on $7.5 billion of EU goods including wine and whiskey.
The Distilled Spirits Council of the US applauded the decision. “U.S. distillers welcome today’s announcement regarding Airbus. We hope that this is a significant step toward resolving this longstanding trade dispute that will result in the prompt elimination of tariffs on U.S. and EU distilled spirits. Distillers on both sides of the Atlantic have suffered enough,” said a statement from the trade organization.
Source: Reuters, Distilled Spirits Council, July 2020