The World Trade Organization (WTO) on September 30 will announce a decision on a dispute between the United States and the European Union, the consideration of which has been delayed for 15 years. If Washington wins the case, it will be able to completely legally introduce billions of dollars in duties on European goods.
The United States is demanding compensation for the unfair, in their opinion, subsidies that European authorities have provided for many years to their manufacturer Airbus.
In the United States, they claimed they wanted to introduce duties of 100 percent on European imports worth $ 11.2 billion. However, later sources in the government said that in case of victory, restrictive measures will affect a smaller amount – about 7.5 billion. The list of products that may be subject to restrictions is already known. They will choose from it after the WTO has announced its decision.
Earlier this month, a number of sources said the WTO was ready to support Washington in a trade dispute. After that, Airbus shares fell sharply.
Meanwhile, the EU authorities are also conducting a case in the WTO against the United States, in which they demand recognition of the preferences granted by Boeing as unlawful. According to preliminary estimates, it will take about nine months to complete. The EU has also compiled a list of American goods for which duties will be imposed in case of victory.
According to experts, the new restrictive measures could lead to the start of a full-fledged trade war between the United States and the European Union. At present, duties on European steel and aluminum are applied in the USA, and in the EU – on US $ 2.8 billion worth of goods. In November, the United States will consider the introduction of duties for the European automobile industry. The authorities of the European Union have already promised that they will not leave these actions unanswered.
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