EU to impose $4 billion tariff on U.S. products after WTO ruling
The EU will impose tariffs on U.S. products in what is believed to be a retaliatory move in the dispute surrounding aircraft manufacturers Airbus and Boeing.
European Commission Vice President Valdis Dombrovskis on Monday said a recent World Trade Organisation ruling permitted the EU to impose the tariffs,
“And that’s what we are doing,” Mr. Dombrovskis said.
The ruling, issued in mid-October, allows the EU to impose tariffs worth nearly four billion dollars (3.37 billion euros) on U.S. imports annually to retaliate against unfair aircraft subsidies.
The EU would remain open to negotiations, however, with the commission advocating for both sides to drop tariffs on each other’s products, Dombrovskis said.
In a similar case, the WTO authorised the U.S. in 2019 to impose tariffs on EU products worth up to 7.5 billion dollars (6.3 billion euros) in response to illegal state aid to European plane-maker Airbus.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
NationWide
Reps committee decries poor funding of auditor-general’s office
He cautioned that persistent underfunding of the nation’s supreme audit institution could further entrench corruption.
NationWide
NSE tasks engineers on sustainable practices
Mr Busari pledged that his administration would focus on key strategic priorities.
States
Owo Church Attack: Amotekun operative tells court how suspected terrorists fled into bush after shooting
At least, 40 worshippers were killed and over 100 persons sustained varying degree of injuries
States
NDLEA urges tertiary institutions in Kano to adopt drug prevention policies
He described tertiary institutions as critical platforms for shaping values.
States
Police arrest three suspected kidnappers, recover two firearms in Oyo
He said the suspects were arrested following intelligence-driven and coordinated security operations.
Africa
Nigeria calls for accountability, audit reforms across AU organs
He expressed concern over discrepancies in financial records, violations of procurement and contracting rules.
