US is increasing the tariff rate on European aircraft from March 18
United States Trade Representative announcement late Friday in the US
- increasing the duty imposed on European aircraft to 15 percent from 10 percent
- effective March 18
The tariffs form part of the 15 year old complaint over subsidies European governments gave to plane maker Airbus
- Back in October 2019 the World Trade Organization gave the US permission to try to recoup its losses
Just lucky that some folks got set short EUR in the preceding days, eh?
Tune in with me at ForexLive on Monday morning for the early market response.