EU - Tariffs Imposed on $4 Billion of US Goods

Arno Froese

The taxes, authorized by the World Trade Organization, affect items such as tractors, ketchup and orange juice.

The EU said it still hoped to settle the fight, which saw the US impose tariffs on European products last year.

EU Trade Commissioner Valdis Dombrovskis said the EU wanted to see both sides remove their respective tariffs, which are a result of a long-running feud over state support provided to plane-maker Boeing and European rival Airbus. 

The fight over aircraft subsidies for Boeing and European rival Airbus pre-dates Mr. Trump’s time in office, but trade tensions between the two traditional allies have grown particularly strained during his tenure. 

Last year, the WTO said the US was justified to retaliate against the EU on $7.5bn worth of goods for support granted to Airbus, prompting the US to place tariffs on items such as certain whiskeys, wines and cheese. 

The WTO made a similar ruling in October in favor of the EU over support offered to Boeing.

US aircraft imported to Europe will face tariffs of 15%. The EU said it would apply border taxes of 25% to a list of other items, which includes tractors, tobacco, ketchup, orange juice, cheddar cheese and sweet potatoes. 

-www.bbc.com, 11 November 2020

Arno's commentary

There is no end to subsidies. While busines executives often pride themselves on saying, “This is a capitalist country,” in reality it’s not so. CheatSheets.com lists the eight biggest corporate welfare recipients in America:

1. Boeing: $13.18 billion
2. Alcoa: $5.64 billion
3. Intel: $3.87 billion
4. General Motors: $3.58 billion
5. Ford: $2.52 billion
6. Chrysler: $2.06 billion
7. Royal Dutch Shell: $2.04 billion
8. Nike: $2.05 billion

Whenever governments subsidize any industry, it’s actually socialism—which is working rather well for the globalists, the billionaires, and those with access to the government coffers bulging with taxpayer money. 

What does the Bible say? “Go to now, ye rich men, weep and howl for your miseries that shall come upon you. Your riches are corrupted, and your garments are motheaten. Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days” (James 5:1-3).

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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