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Clinton trade representative criticizes EC Airbus subsidies.

CPAs with clients or companies involved in international trade should be ready for a period of tough trade negotiations between the Clinton administration and the European Community. As these negotiations proceed, it is possible that either the United States or its trading partners will raise some tariffs, temporarily disrupting international trade.

In the latest demonstration of his administration's hard-line stance on foreign trade, President Clinton called for a review of the accord between the EC and the United States on the Airbus consortium, claiming the subsidized European aircraft manufacturer was responsible for layoffs in the U.S. aerospace industry.

U.S. Trade Representative Mickey Kantor requested consultations on the Airbus agreement and the EC agreed. However, EC external affairs commissioner Leon Britton was assured the United States would abide by the agreement, which is up for review in July. President Clinton confirmed he wants the treaty enforced, not abrogated.
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Title Annotation:Mickey Kantor
Publication:Journal of Accountancy
Article Type:Brief Article
Date:Jun 1, 1993
Words:149
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