WTO gave US final authorisation to impose tariffs on EU products
The World Trade Organisation (WTO) gave the United States final authorisation to impose tariffs on EU products in retaliation for illegal subsidies given to Airbus.
Earlier this month, a WTO arbitrator gave Washington the green light to slap tariffs on 7.5 billion US dollars worth of European Union imports.
The move comes as a landmark moment in the 15-year legal battle between Airbus and American plane-maker Boeing.
The arbitrator's award- the largest in the organisation's history- was rubber-stamped by the WTO's Dispute Settle Body (DSB) at a special DSB meeting.
the tariffs, which may target a range of consumer products including French wine, could be in place by Friday.
EU officials have indicated that they are trying to reach a negotiated settlement with the US to avoid escalating trade tensions that risk battering economies across the globe.
If those negotiations fail to produce a deal, Brussels will get the chance to impose its own WTO-approved tariffs on US products, after convincing WTO judges that Boeing had benefited from illegal US government subsidies.
An arbitrators decision in that case is due in 2020.
The World Trade Organisation (WTO) gave the United States final authorisation to impose tariffs on EU products in retaliation for illegal subsidies given to Airbus.
Earlier this month, a WTO arbitrator gave Washington the green light to slap tariffs on 7.5 billion US dollars worth of European Union imports.
The move comes as a landmark moment in the 15-year legal battle between Airbus and American plane-maker Boeing.
The arbitrator's award- the largest in the organisation's history- was rubber-stamped by the WTO's Dispute Settle Body (DSB) at a special DSB meeting.
the tariffs, which may target a range of consumer products including French wine, could be in place by Friday.
EU officials have indicated that they are trying to reach a negotiated settlement with the US to avoid escalating trade tensions that risk battering economies across the globe.
If those negotiations fail to produce a deal, Brussels will get the chance to impose its own WTO-approved tariffs on US products, after convincing WTO judges that Boeing had benefited from illegal US government subsidies.
An arbitrators decision in that case is due in 2020.