The United States is allowed to slap $7.5 billion of tariffs on EU imports annually because of the bloc’s illegal subsidies for European aircraft giant Airbus, the World Trade Organisation (WTO) announced Wednesday.
This was the largest amount of so-called countermeasures that the Geneva-based trade body has ever granted in a trade dispute.
The U.S. signalled that it plans to raise tariffs on aircraft and food products from Europe.
The EU is planning to hit back with retaliatory tariffs, based on the WTO’s previous finding that the U.S. subsidies for Airbus rival, Boeing also violated free trade rules.
But the Geneva-based trade body has yet to announce a dollar sum.
The world’s two biggest aircraft makers have been feuding over state support for more than a dozen years.
Edited by Abdulfatah Babatunde
- Queens College PTA wants unity schools’ participation in 2020 WASSCE
- Major shake-up in Nigerian Army as 37 Generals redeployed
- Buhari commiserates with Delta fire victims
- Rotary club president pledges more services to humanity
- Transport unions, FRSC sign agreement on Coronavirus safety measures in Kaduna
- Coronavirus: Kwara health workers demand hazard allowance
- Kano Emir re-appoints kingmaker 17-years after he was removed
- Ekiti Govt, CIPM collaborate on capacity devt
- United States-based fertiliser coy to establish African branch in Kebbi
- 602 repentant Boko Haram members denounce membership