Details of WTO’s Final Authorisation To U.S. On Tariff Rise For EU Products

Details of WTO’s Final Authorisation To U.S. On Tariff Rise For EU Products  Details of WTO’s Final Authorisation To U.S. On Tariff Rise For EU Products tradewar between us and eu e1571179217628
Details of WTO’s Final Authorisation To U.S. On Tariff Rise For EU Products

The World Trade Organisation (WTO) has given the United States final authorisation to impose tariffs on EU (European Union) products.

Earlier this month (October), a WTO arbitrator gave the United States the green light to impose tariffs on $7.5 billion worth of European Union imports.

The recent move comes as a milestone moment in the 15-year legal battle between Airbus and American plane-maker Boeing.

The arbitrator’s award- the largest in the organisation’s history- was rubber-stamped by the WTO’s Dispute Settle Body (DSB) at a special DSB meeting.

When the tariffs could be in place?

According to reports, the new tariffs could be in place by October 18. The new tariffs may target a range of consumer products including French wine.

Is Negotiated settlement possible?

EU officials however have indicated that they are trying to reach a negotiated settlement with the United States to avoid intensifying trade tensions that risk hammering economies across the globe.

What if negotiations fail?

If negotiations with the United States fail to produce a deal, the EU will get the chance to impose its own WTO-approved tariffs on US products.

Whether it is breaking news or a view, your contribution can make a huge difference. Are there topics you want to get people talking about? ... Email us at team@manateluguguru.com