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EU wins right to place tariffs on US$4b US goods in aircraft spat | Money

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The award, which partially mirrors US tariffs on Airbus jets and confirms a decision first reported by Reuters on Sept 30, threatens to stoke transatlantic trade tensions . ― Reuters pic

BRUSSELS, Oct 13 —The European Union has won the right to impose tariffs on US$4 billion (RM16.6 billion)  in US goods in retaliation for subsidies granted to planemaker Boeing under a World Trade Organisation (WTO) ruling today.

The award, which partially mirrors US tariffs on Airbus jets and confirms a decision first reported by Reuters on Sept 30, threatens to stoke transatlantic trade tensions just three weeks before US presidential elections on Nov. 3.

However, negotiators on both sides say it could also lead at last to discussions to resolve a 16-year legal battle. — Reuters

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