WTO allows U.S. to impose tariffs on $8 billion of European goods
The World Trade Organization (WTO) authorized the U.S. to impose tariffs worth $8 billion on goods from Europe. The U.S. administration’s imposition is in response to the European Union’s (EU) subsidization of Airbus SE — Europe’s top airplane and aviation manufacturer.
The official tariff rates have not yet been released by the United States Trade Representative (USTR), but will likely hit as soon as October and will target planes, aviation parts, and luxury products.
The EU is currently pursuing a similar case at the WTO over what they consider illegal subsidies the U.S. has provided to Boeing Co., a major U.S.-based airplane and aviation manufacturer. That pending case, in addition to the U.S. tariffs, could trigger retaliatory tariffs from Europe. A decision in Europe’s favor would open the door for the EU to tariff approximately $12 billion in U.S. goods ranging from ketchup to video game consoles.
Trans-Border will continue to monitor the situation. If you have any questions, please reach out to Bill Carey, Import Compliance Manager, at firstname.lastname@example.org or (800) 493-9444.