Trump wins biggest-ever WTO ruling, opening the door for $7.5 billion of tariffs on Europe
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.The World Trade Organization on Wednesday gave the Trump administration the green light to slap roughly $7.5 billion worth of tariffs on goods coming from the European Union.
The tariffs come amid a standoff over EU-based Airbus and US-based Boeing that's stretched on for decades, with each country claiming that the aircraft companies are illicitly aided by government funds. The $7.5 billion worth of tariffs would affect luxury goods such as cheese and linens, as well as aircraft parts coming from the EU — something that would have raised prices for Airbus who manufacture some of its planes in the US. The World Trade Organization on Wednesday gave the US the go-ahead to slap roughly $7.5 billion worth of tariffs on the EU on aircraft parts and luxury goods. The award is the largest in WTO history, nearly doubling the previous record set in 2002.
The long-awaited ruling comes as Trump had been looking to step up his trade war with the EU, having already hit the trade bloc with
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