WTO authorises EU to impose tariffs on U.S. goods worth $4 billion against subsidies for Boeing

In a move to retaliate against the subsidies for American planemaker Boeing Co., the World Trade Organization (WTO) has authorized the European Union (EU) to impose tariffs on $4 billion U.S. goods.

This could be seen as a fresh source of potential trade friction ahead of the U.S. presidential election that is due in November and that came after Washington began imposing tariffs on $7.5 billion worth of EU goods over state support for Boeing rival Airbus in year 2019.

In a move to provide aid to their aircraft industries, the two sides have been locked in a 16-year-old dispute at the Geneva-based WTO that together represents the world’s largest-ever corporate trade dispute. Boeing did not comment on the WTO report but accused Airbus of being ignorant to its recent decision to forgo tax breaks in Washington state in order to try to resolve the dispute.

Photo Credit : https://commons.wikimedia.org/wiki/File:WTO..png

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