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13.08.2020

Airbus stocks hit by tariffs blow

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The company’s stocks fell over 2% on the announcement but trimmed losses to 1% afterwards

Stocks impacted: Airbus (AIR)

The U.S. government said it would maintain 15% tariffs on Airbus's aircraft and 25% tariffs on other European goods despite moves by the European Union to resolve a dispute over aircraft subsidies. The European planemaker said it "profoundly regrets" the U.S. decision to keep tariffs in place especially at a time when aviation and other sectors are going through an unprecedented crisis. The company expressed hopes that that Europe will respond appropriately to defend its interests and the interests of all the European companies and sectors. In its decision, the US said the EU and member states have not taken the actions necessary to come into compliance with WTO decisions. As a reminder, the US last year raised border taxes on more than 100 items. The company’s stocks fell over 2% on the announcement but trimmed losses to 1% afterwards.

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