The European Union and the United States have been battling for more than a decade over mutual claims of illegal aid to plane giants Boeing and Airbus, with parallel cases at the World Trade Organisation. Photo: Bloomberg
US hit back against EU with tariff retaliation over ‘harmful’ Airbus subsidies
- US Trade Representative says it is kicking off the process for retaliation against the European Union over US$11 billion worth of damage from subsidies to Airbus
- The World Trade Organisation has found that the subsidies cause “adverse effects” to the United States
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Airbus
The European Union and the United States have been battling for more than a decade over mutual claims of illegal aid to plane giants Boeing and Airbus, with parallel cases at the World Trade Organisation. Photo: Bloomberg
Mainland Chinese tourists look at goods at the Elements shopping centre in West Kowloon. Tourists bringing personal items back to China from Hong Kong will face lower taxes. Photo: Nora Tam
China cuts controversial tax on personal items bought overseas in move to boost consumption
- The tax rate on products including computers, foodstuffs, gold and silverware, furniture and medicines will be lowered to 13 per cent from 15 per cent
- Analysts doubt whether the minor tax break will have a material impact on China’s sluggish consumer confidence
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China economy
Mainland Chinese tourists look at goods at the Elements shopping centre in West Kowloon. Tourists bringing personal items back to China from Hong Kong will face lower taxes. Photo: Nora Tam