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13 Aug 2020

USTR Lighthizer: EU has not taken actions necessary to come into compliance with WTO decision

Early Thursday morning in Asia, late-Wednesday in the West, the US Trade Representative (USTR) Robert Lighthizer crossed wires, via Reuters, while criticizing the European Union (EU) over the bloc’s performance on the airbus case. The Trump administration member also marked some tariff changes for the UK, Greece, France and Germany.

Key quotes

Will modify list of EU products affected by tariffs in aircraft subsidy case.

Tariff rates on EU products will remain unchanged at 25% for EU goods, and 15% for aircraft

Modifying list of EU products facing tariffs to remove some from Greece and Britain, adding equivalent amount France and Germany.

EU has not taken actions necessary to comply with the WTO decision on aircraft subsidies.

US. committed to obtaining long-term resolution to dispute over aircraft subsidies; will begin new process with EU.

Market reaction

The trade-negative news joins the doubts over American stimulus package to probe the risk-barometer AUD/USD pair’s recent recovery around 0.7160.

Aug 13, 2020

Fed’s Daly: Congress will need to build a “bridge”

President of the Federal Reserve Bank of San Francisco Mary Daly adds more comments, this time on stimulus talks as well, while extending her latest s
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Aug 13, 2020

UK Chancellor Sunak told to safeguard recovery or watch it fail – Times

Early Thursday morning in Asia, The Times came out with the news suggesting further easy money policies from the UK. The reason could be spotted in th
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