Spain's acting agriculture and food minister, Luis Planas, accused the United States on Thursday of breaking trade rules after Washington announced duties on $7.5 billion worth of EU goods
MADRID (Pakistan Point News / Sputnik - 03rd October, 2019) Spain's acting agriculture and food minister, Luis Planas, accused the United States on Thursday of breaking trade rules after Washington announced duties on $7.5 billion worth of EU goods.The tariffs will go into effect on October 18. They will be set at 10 percent for aircraft and at 25 percent for agricultural goods, most of which come from Spain, France, Germany and the United Kingdom.
"This is an obvious violation that disrespects the rules-based multilateral trade," Planas told reporters, adding that both Spanish and US producers would be hurt.
The United States was given a go-ahead to impose the taxes of up to 100 percent by the World Trade Organization, which ruled in Washington's favor in a 15-year legal battle over Airbus subsidies. Europe promised to retaliate.
The Spanish agricultural association, COAG, estimated possible losses at over $1 billion. The United States is Spain's biggest agricultural export market outside Europe and accounts for a bulk of its wine, olive, oil and cheese sales.
