A dispute over airplanes could mean more tariff troubles for U.S. seafood, if the Trump Administration follows through with its threat on imports from the 27 countries that make up the European Union.
The problem stems from a nearly 15-year argument over subsidies paid by the U.S. to airplane maker Boeing and Europe to Airbus.
Undercurrent News reports that earlier this month the World Trade Organization concluded that U.S. subsidies to Boeing caused significant harm to Airbus, including lost sales. The WTO also ruled earlier that the EU’s subsidies to Airbus have caused similar adverse effects to the US.
A list published this week by the EU identifies $20 billion worth of products listed for import duties if they originate in the U.S. It includes $840 million worth of seafood sent to the European countries.
Frozen Alaska pollock is the European Union’s biggest seafood import from the U.S. valued at $336 million.
Also included is whole frozen Alaska sockeye salmon valued at $104 million, frozen salmon fillets of several species at $252 million, and whole frozen cod valued at nearly $51 million in sales to Europe.
Meanwhile a list of nearly 300 items that the EU imports to the U.S. valued at more than $11 billion would be affected.
No announcement has been made yet about the amount of the tariffs, should they occur, and a result of arbitration by the World Trade Organization is expected this summer.
A US trade consultant told Undercurrent News to “not be surprised by tariffs as high as 100 percent” from the Trump administration, should the two groups not reach a settlement agreement.
The Trump administration already has imposed tariffs on European steel and aluminum exports to the U.S. and is considering tariffs of up to 25 percent on EU vehicles.
It also comes at a time when U.S. seafood companies are struggling to cope with the nearly year-long tariff battles with China.