10/26, 3:58 PM (Source: TeleTrader)
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WTO gives final approval for EU tariffs on US goods

The World Trade Organization (WTO) gave its final authorization to the European Union to impose $4 billion worth of tariffs on goods from the United States. The decision follows a ruling by the WTO that the US gave illegal subsidies to the Boeing Company.

Executive Vice President of the European Commission Valdis Dombrovskis called on Washington to negotiate a deal with the EU on aid for aircraft, but added that the EU will impose tariffs if there is no prospect of a deal in the near future. US President Donald Trump threatened to "strike back harder" if the union decides to go ahead with the levies.

Breaking the News / DJ