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
Topic |   Airbus

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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
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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
Topic |   China economy

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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
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