WTO approves European tariffs on Boeing jets and other US goods
(VOVWORLD) - The World Trade Organization ruled Tuesday that the EU can impose tariffs worth 4 billion USD a year on a list of US goods, including Boeing jets sold in Europe.
The WTO authorized the action against the US in response to illegal government subsidies for Boeing. A parallel ruling allowed the US to impose 7.5 billion USD in tariffs on EU goods for illegal subsidies to Airbus. The two cases represent the world’s largest ever corporate trade dispute.
US Trade Representative Robert Lighthizer said Washington will intensify negotiations with the EU to restore fair competition and resolve the dispute.
The EU will immediately re-engage with the US in a positive and constructive manner to decide on next steps, said Valdis Dombrovskis, the European Commission's Executive Vice President in charge of trade.
Once cleared by the WTO, the EU could impose its retaliatory tariffs beginning October 27.