Trade Wars: EU Announces Tariffs on $20 Billion of US Goods
The transatlantic aircraft subsidies row has just heated up with the European Commission announcing tariffs on $20 billion worth of US imports, spanning a variety of products, from fish and squid to airplanes and even bicycle parts.
The WTO has recently ruled that the European aircraft subsidies have adversely impacted the US. The EU has announced these retaliatory tariffs amidst news reports that the US is considering tariffs on $11 billion worth of EU manufactured products.
The trade war between the EU and the US started in 2018 with the US imposing tariffs on steel and aluminum imports from various countries, including the EU. Trump has since threatened to impose tariffs on cars produced by the EU.
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