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10/18, 6:10 AM (Source: TeleTrader)
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US tariffs on $7.5B in EU goods come into force

The administration in Washington imposed duties on merchandise from the European Union worth $7.5 billion per year, as scheduled after a ruling by the World Trade Organization. The international institution accepted the complaint by the United States that the 28-member trade bloc is breaching rules with the support for Airbus.

The arbitration was completed on October 2, after which the WTO gave a formal green light for the tariffs. The United Kingdom, France, Germany, and Spain were singled out for the subsidies.

Breaking the News / IT