PARIS (AP) — France’s finance minister says Europe is ready to impose retaliatory tariffs next year on U.S. goods as part of a long-running dispute over subsidies to plane makers Airbus and Boeing.
Finance Minister Bruno Le Maire told reporters Thursday that “trade wars are good for no one,” noting damage caused worldwide by the U.S.-China trade conflict.
But he said Europe is bracing for possible U.S. sanctions over the plane subsidy dispute, and that “Americans should know that we are ready to react.”
He said he’s pushing for a “friendly agreement” with U.S. Trade Representative Robert Lightizer.
The World Trade Organization ruled in May that Europe illegally subsidized Airbus, hurting U.S. competitor Boeing. The European Union has brought a similar case at the WTO accusing the U.S. government of illegally subsidizing Boeing.