Airbus and the Spanish and French Governments have moved on 24 July to bring themselves into compliance with the initial WTO ruling on subsidies for Airbus. EU Trade Commissioner Phil Hogan issued the following statement >
In short, the Commission believes there are no longer any justifications for the US to continue with its counter-measure tariffs on EU goods. These also apply to goods from the UK. The US is unlikely to respond in this way.
By September, a WTO arbitration panel is expected to rule in terms of the corresponding Boeing subsidies involving the US. Commissioner Hogan's statement makes clear that the Commission is gearing up to apply tariffs to US goods if the US does not remove its tariffs and the arbitration panel provides authorisation for EU counter-measures.
Here is the list of US products the EU is considering applying increased tariffs to later this year in this eventuality. Until 31 December, this would apply to US imports to the UK as well. It covers some textiles, handbags and luggage, and some agri-food products, such as wines, juices, nuts, fruits (including dried), chocolate, frozen fish >
The BRC will continue to liaise with BEIS and DiT and keep members up to date with the latest developments.