Huge trade tariffs could hit Europe next week if US wins WTO dispute
The World Trade Organization (WTO) is set to back a U.S. request to impose tariffs on billions of dollars of European goods, potentially sparking a new trade war across the Atlantic, several media reports suggest.
Separate reports suggest that the United States is poised to win its long-running trade dispute with EU countries over alleged subsidies for Airbus. If confirmed, Washington will be allowed to hit the EU with billions in tariffs on several European exports.
Washington has said it wants to impose tariffs of up to 100% on European exports to the U.S. with an annual trade value of around $11.2 billion a year.
In April this year, the European Commission launched a public consultation on its preliminary list of products from the United States that it would seek to hit with import tariffs.
The list, representing about $20 billion worth of U.S. exports to the EU, also covered a wide range of items including aircraft, chemicals and food products such as frozen fish and citrus fruit.
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