WTO Gives EU $4 Billion Target on U.S. Goods in Boeing Case

09/30/2020

|

Bryce Baschuk, Charlotte Ryan, and Jonathan Stearns | Bloomberg

The European Union can impose tariffs on about $4 billion of U.S. exports annually in retaliation for government aid to Boeing Co. deemed illegal by the World Trade Organization, according to people familiar with the ruling.

The WTO decision, released privately to EU and U.S. officials, is one-third of the EU’s request for a $12 billion award and lower than the $7.5 billion retaliation judgment the WTO granted the U.S. last year in a parallel dispute against Boeing’s European rival, Airbus SE. The trade body’s decision will be published in coming weeks, the people said.

The ruling, reported earlier by Reuters, marks a key milestone in the WTO’s longest-running dispute that could create momentum for an aircraft settlement accord or boil over in a tit-for-tat transatlantic trade war.

To read the full article, click here