WTO okays US$4 billion in EU tariffs after US aids Boeing
THE World Trade Organisation has approved European Union plans to impose tariffs on about US$4 billion worth of US exports annually in retaliation for America's illegal subsidies to Boeing, reports Bloomberg
28 October 2020 - 19:00
The WTO approved the EU's arbitration award - the third largest in WTO history - during a meeting of the dispute settlement body at the WTO's headquarters in Geneva.
The development marks the final procedural hurdle at the WTO before the EU can legally retaliate against US goods. Nevertheless, officials in Brussels do not expect to trigger new tariffs until after the US presidential election on November 3.
A US official at the WTO on Monday urged the EU not to impose duties on American goods because Washington state terminated its illegal subsidies to Boeing on April 1.
If the EU moves forward with the tariffs, it would force a US response that would move away from the effort to resolve the dispute, according to a statement from the American WTO delegate.
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