The world trade organisation (WTO) authorised the United States and the levying of punitive tariffs in the amount of 7.5 billion U.S. dollars for imports from the EU. This is the highest sum, which was approved in the nearly 25-year history, the WTO has ever been. An appeal against the arbitrator’s award shall be excluded.
Specifically, the US is planning new taxes on aircraft and components to the aerospace industry, but also a number of cheeses, olive oil, oranges, and flour. The punitive tariffs may be charged to the losing party – has eliminated the EU, the contested trade distortions.
The EU says it’s been done. On your request of appointed trade experts review of the WTO this already. For your assessment, there is still no appointment.
EU threatens with countermeasures
The EU, for its part, will impose billions of high retaliatory tariffs against the U.S., including both on aircraft components, as well as tomato-ketchup, and game consoles.
The EU Commission warns the United States against punitive tariffs to introduce. “If the US decide to allowed by the WTO against measures to introduce, they will bring the EU into a Situation in which we have no other choice than to do the same,” said EU trade Commissioner Cecilia Malmström in Brussels on Wednesday. Because it is a similar WTO is expected a decision in favor of the Europeans in the parallel-negotiated the Boeing case.
The dispute, in the Brussels and Washington each other for illegal subsidies to blame, lasts for around 15 years. The separate proceedings with the dispute in charge of the WTO, both subsidies to the European Airbus as well as for the US competitors, Boeing declared inadmissible.
“The mutual introduction of counter-measures would only hurt the businesses and citizens on both sides of the Atlantic,” warned Malmström at a “sensitive time” for the world trade. (SDA/noo)