WTO authorsises EU to impose tariffs on $4Bln of US goods

The World Trade Organization has authorised the European Union to slap tariffs on US goods worth $4 billion to retaliate against subsidies for US planemaker Boeing Co BA.N, people familiar with the matter said, according to Reuters.

Reuters published the news in recent trade that stated the move echoes last year’s decision to allow the United States to penalize $7.5 billion of EU goods over support for Airbus AIR.PA, though the EU is expected to argue it has total firepower of $8.2 billion because of separate unused tariffs.

”The decision by WTO arbitrators will be published in coming weeks, the people said, asking not to be identified.”

Market implications

Markets will be watching the developments of this news over the coming weeks which does not bode well for risk appetite. 

Leave a Reply

Your email address will not be published. Required fields are marked *