LONDON (Reuters) - Airbus (AIR.PA) shares reversed losses and drinks maker Pernod Ricard (PERP.PA) extended losses on Wednesday afternoon after Washington won approval to impose tariffs on $7.5 billion worth of European goods over illegal EU subsidies handed to Airbus.
At 1425 GMT, Airbus shares were up 0.2% after spending most of the session so far in the red, while French drinks maker Pernod was down 0.1% after hitting a day low after the ruling.
The U.S. Trade Representative’s provisional list of products that are eligible to be targeted with tariffs ranges from Airbus jets themselves to helicopters, wine, handbags and cheese.
The ruling threatens to trigger a tit-for-tat transatlantic trade war as the global economy falters.
Reporting by Josephine Mason, Julien Ponthus and Danilo Masoni