EU wins right to impose tariffs on 4 billion U.S. dollars imports in retaliation against subsidies for Boeing

A record trade spat that has prompted Washington to slap duties on EU imports has further deepened after the European Union, on October 13 won the right to impose tariffs on 4 billion U.S. dollars worth of U.S. goods in retaliation against subsidies for plane maker Boeing.

The move is likely to escalate tensions between the two just three weeks ahead of the U.S. presidential election. However, the negotiators on both sides are of the view that the World Trade Organization (WTO) tariff award could also lead at last to discussions to resolve a 16-year legal battle going on over subsidies to aircraft manufacturers Boeing and Airbus. 

While accusing the other of refusing to talk seriously, the United States and the EU have signalled interest in settling the dispute over plane maker subsidies.

Photo Credit : https://www.flickr.com/photos/sota-k/5717642627/

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