4/17, 12:35 PM (Source: TeleTrader)
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EU lists $20B of US goods subject to potential tariffs

The European Commission published on Wednesday a preliminary list of $20 billion worth of products from the United States that could be hit with counter-tariffs as part of the EU-US dispute revolving around subsidies given to aircraft maker Boeing. The list covers a wide range of products going from aircrafts to chemicals and agri-food goods. The Commission added that a final list will be drawn up in consultations with an arbitrator appointed by the World Trade Organization (WTO).

European Trade Commissioner Cecilia Malmstrom stressed that the recent WTO report, which determined that the subsidies given to Boeing continue to cause significant harm to Europe's Airbus, only stresses the need for the European companies to compete on fair and equal terms. However, despite stating EU's readiness to respond with countermeasures "if there is no way out," Malmstrom reiterated that a dialogue is still the preferred solution to the dispute.

Breaking the News / FH