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France and the EU vow to fight back against Trump’s tariffs as one expert sees the ‘weaponization of trade’
"It's not the behavior we expect from the US toward one of its main allies," French Finance Minister Le Maire said.
The tariff fight over the world’s biggest plane makers is heating up after the US claimed Boeing’s rival Airbus was given ‘market-di...
The World Trade Organization rejected the European Union's claim that it had ended subsidies to the French plane maker Airbus.
The pound shot up as much as 1.3% in morning trading in London.
The pound pushed up 1.3% against the dollar and 1% against the euro on Friday.
The pound is tanking after Boris Johnson’s Brexit talks with Angela Merkel reportedly hit a dead end
The pound dropped 0.7% against the euro on Tuesday morning.
The EU says negotiation is a "preferred approach," the Wall Street Journal reported. It's a sign Europe wants to avoid a full-blown trade war with the US.
Earlier Wednesday, the WTO reached a historic ruling that authorized the US to impose punitive tariffs on $7.5 billion worth of European products.
Trump had been looking to hit the EU with tariffs on aircraft parts and luxury goods due to a dispute that subsidies were given to Airbus and Boeing.
"The drop in the ESI, from 103.1 in August to 101.7 in September, marked a resumption of the steady decline in the index since the start of 2018."
The comments come as the EU reportedly weighed a $4 billion tariff hike on the US over a decades-long standoff between Boeing and Airbus.