The US has rejected the EU’s offer of an amicable solution and is instead going down the path of confrontation. We consider this to be the wrong approach as workers and consumers will have to pay the price for this on both sides of the Atlantic. The EU will now have to respond and, once approved by the WTO, likely impose punitive tariffs of its own. Europe stands as one on this issue.
Europe continues to be prepared to negotiate common rules with the US on subsidies in the aviation industry, however. There is still a chance to avert damage to the world economy. For at the end of the day, everyone stands to benefit from open and fair trade.