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4/16, 5:30 PM (Source: TeleTrader)
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EU may sue US if Cuba sanctions extended - report

The European Union is considering imposing economic penalties on US companies operating in Europe and even suing the United States at the World Trade Organization (WTO) if Washington decides to extend sanctions against Cuba in a way that could damage the interests of European companies, the Wall Street Journal reported on Tuesday, citing European diplomats familiar with the matter.

The move comes against the background of mounting concerns in the EU that the administration of President Donald Trump might implement the so-called Title III of the Helms-Burton Act. If so, it would allow US citizens to file lawsuits with US courts against foreign companies doing business in or with Cuba for allegedly trafficking property that once belonged to American nationals or Cuban immigrants in the US but was seized by former President Fidel Castro's regime.

US-EU trade relations remain under strain as the United States Office of the Trade Representative recently proposed an introduction of $11 billion worth of tariffs on European goods over illegal subsidies the EU gave to Airbus, prompting the bloc to signal it stands ready to retaliate to any possible tariffs to the tune of over €19 billion should Washington act on the proposal.

Breaking the News / GG