LONDON (Reuters) – Airbus Chief Executive Guillaume Faury warned yesterday any further escalation of trade tensions would damage aerospace firms globally, including the European planemaker’s US rival Boeing.
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The United States and the EU have each threatened to impose billions of dollars of tit-for-tat tariffs on planes, tractors and food in the nearly 15-year trans-Atlantic dispute at the World Trade Organization over subsidies to Airbus and Boeing.
“The trade tensions that we see, we believe they are lose-lose tensions,” Mr Faury told reporters on a visit to London.
Boeing on Wednesday urged the US government, which has the first crack at imposing any tariffs since its WTO process is running several months ahead of the EU’s, to restrict reprisals to European aircraft to avoid harming American manufacturers.
But Mr Faury said it would be impossible to isolate the fallout from the deteriorating international trade climate, which has also led to a tariff war between the United States and China.
“These tensions, and the trade situation, are not supportive to any of the players in aerospace,” he said.
“We don’t think we’ll be losing more than the other guys in that situation, but we think it should be resolved in one way or another that enables global businesses like aviation to continue to grow,” Mr Faury said.