Washington:
In 2004, the US accused the UK, France, Germany and Spain of illegally subsidizing Airbus products. One year later, the European Union claims that Boeing was illegally subsidized by various branches of the US government from 1989 to 2006. As a result, there is a conflict between the EU and the US. At one point in the conflict, the US warned that taxes on imports from the EU would be levied.
In the meantime, the US taxed heavily on $ 7.5 billion worth of goods imported from the EU yesterday. It came into effect from midnight yesterday. This includes a heavy tax on air bus flights, Scotch whiskey and French wine. France's Minister of Economic Affairs, Bruno Li, said, "This action by the US will have serious consequences." There is already a trade war between the US and China as there is already a trade war between the US and China. This is expected to cause serious economic problems worldwide.
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