There ain't no winners in a trade war....

[ollie989898]

https://uk.reuters.com/article/us-u...lion-eu-tariff-list-over-boeing-idUKKCN1RT12G

BRUSSELS (Reuters) - Handbags, tractors, shovels and fish are part of an 11-page list of U.S. imports worth $20 billion that the European Union on Wednesday said it could hit with tariffs in a transatlantic aircraft subsidy dispute.

The United States and the European Union have been battling for almost 15 years at the World Trade Organization over subsidies given to U.S. planemaker Boeing and its European rival Airbus.

After partial victories for both sides, each is asking a WTO arbitrator to determine the level of countermeasures they can impose on the other.

The Trump administration last week proposed targeting a seven-page list of EU products for tariffs, ranging from large aircraft to dairy products and wine, to counteract the harm from EU subsidies for Airbus worth an estimated $11 billion.

Brussels has responded with its own list of some $20 billion worth of U.S. imports, including agricultural produce from dried fruit to ketchup, planes, fish, tobacco, handbags, suitcases, tractors, helicopters and video game consoles.

The answer of course is to stop subsidising bloody plane-makers.

 

[capfits]

Only the egos win, or at least they think they do.

 

[wanton dwarf]

The EU takes UK WTO & EU tariff taxes and spends the money on other nation states. IMHO this is not acceptable and I doubt if many members of the public are even aware of the situation.

 

[turbo]

The EU takes UK WTO & EU tariff taxes and spends the money on other nation states. IMHO this is not acceptable and I doubt if many members of the public are even aware of the situation.

How much is that and is it on top of what we pay as protection money to the eu?if it’s on top the bus figures were way out

 

[wanton dwarf]

How much is that and is it on top of what we pay as protection money to the eu?if it’s on top the bus figures were way out

Yes.

I put it on another thread .. it's about 3.5 Billion Euros a year supposedly. Remember that none EU trade is approximately half of UK export/imports. The rest being EU trade.

So in theory the total Tariff bill would be 7 Billion Euros if we left the EU .. significantly less than EU membership.

 

[wanton dwarf]

How much is that and is it on top of what we pay as protection money to the eu?if it’s on top the bus figures were way out

In 2017 the UK contributed €10.58 billion to the EU budget (after a rebate of €4.94 billion), and also collected €3.97 billion in customs duties on the EU's behalf, of which it retained 20%, as an administrative fee.

http://www.europarl.europa.eu/external/html/budgetataglance/default_en.html#united_kingdom

 

[Exfarmer]

The problem is that state subsidies are not always straight forward.
The subsidies to Boeing range from a hugely expensive programme to convert very aged 707 aircraft to convert to KC147 tankers for the US Airforce.
This involved purchasing 20- 30 year old craft at hugely expensive prices, which were credited against the purchase of new passenger jets.
They were then converted on sweetheart terms giving Boeing a vast unnofficial subsidy. There were also military aircraft purchases across the board for other manufacturers too.
Likewise of course the British government have done similar for Airbus tankers along with the rest of European countries in the airbus consortium.

 

[Exfarmer]

In 2017 the UK contributed €10.58 billion to the EU budget (after a rebate of €4.94 billion), and also collected €3.97 billion in customs duties on the EU's behalf, of which it retained 20%, as an administrative fee.

http://www.europarl.europa.eu/external/html/budgetataglance/default_en.html#united_kingdom

View attachment 788790

Yes but these customs duries would have been rebated anyway as they are duties paid for goods which are forwarded to other EU countries. So the 20% premium we take is actually a bonus

 

[wanton dwarf]

Yes but these customs duries would have been rebated anyway as they are duties paid for goods which are forwarded to other EU countries. So the 20% premium we take is actually a bonus

Have a good think about whether you are telling the truth .. and when you've had a good think .. use the same basis of thought for imports in EU ports that come to the UK.

And no tariffs are not rebated and all goods imported are not sent out of the UK to the EU or vice versa.