10/2/2019, 10:01 PM (Source: TeleTrader)
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US to impose $7.5B tariffs on EU after WTO ruling

The United States will implement tariffs on $7.5 billion of imports from the European Union following the World Trade Organization's (WTO) decision the bloc illegally subsidized Airbus SE, the Office of the Trade Representative stated on Wednesday.

Washington will set the levies on aircraft from the EU at 10%, while agricultural and industrial goods will be tariffed 25%, USTR official said, adding aircraft parts will not be affected. A list of precise goods which will be tariffed will be published within the day, with the measures taking effect on October 18.

Additionally, the official asserted Washington would be prepared to respond if Brussels uses any old WTO rulings it won but never acted on to retaliate against US tariffs.

Breaking the News / MD