US Can Impose Retaliatory Tariffs on Full $7.5 Billion Worth of Imports From the EU Over Airbus Aircraft Subsidies: WTO
Adding to the tariff woes plaguing global financial markets, the WTO came out in support of the US’s decision to add more retaliatory tariffs on European imports over the issue of aircraft subsidies for Airbus. On Monday, the WTO rejected EU’s claims for removal of the tariff threat as it no longer offers subsidies to Airbus.
According to a spokesman for the US Trade Representative’s office, “Nothing in today’s report even suggests that the (WTO) compliance panel found that the amount has decreased. There is accordingly no basis for Airbus’s assertions that the report ‘implies’ that the U.S. countermeasures should be reduced by $2 billion”.
In October, the WTO had granted the US permission to impose higher tariffs on $7.5 billion worth of imports from the European Union after ruling in the US’s favor on the issue of unfair aircraft subsidies provided to Airbus by the EU. However, Airbus had challenged this decision and asked the US government to reduce this limit by $2 billion and impose retaliatory tariffs on only $5.5 billion worth of EU imports instead.
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