WTO Backs EU Tariffs on $4 Bn US Goods Over Boeing Subsidies: Report

WTO Backs EU Tariffs on $4 Billion U.S. Goods Over Boeing Subsidies: Sources (excerpt)

(Source: Reuters; published Sept. 30, 2020)

PARIS --- The World Trade Organization has authorized the European Union to impose tariffs on U.S. goods worth $4 billion to retaliate against subsidies for American planemaker Boeing Co, people familiar with the matter said.

The delayed award provides a fresh source of potential trade friction weeks before November's U.S. presidential election, after Washington last year began imposing tariffs on $7.5 billion worth of EU goods over state support for Boeing rival Airbus.

The two sides have been locked in a 16-year-old dispute at the Geneva-based WTO over aid to their aircraft industries in a pair of cases that together represent the world’s largest-ever corporate trade dispute.

They were informed of the decision by WTO arbitrators on Friday, and the award is expected to be published within weeks.

The U.S. Trade Representative and the EU’s Washington office did not immediately answer requests for comment. (end of excerpt)

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