WTO’s arbitration allows US to impose penalties on EU goods

Source : 112 Ukraine

Brussels threatens the US to respond symmetrically
13:45, 18 October 2019

Open source

The World Trade Organization’s (WTO) arbitration allowed the US to impose up to 100 percent penalties on EU goods totaling 7.5 billion dollars, Deutsche Welle reports.

The United States announced the introduction of penalties in early October as revenge for illegal subsidies from the European Union to the Airbus airline.

Related: U.S. and China trade war will destroy world economy, - Chinese Commerce Minister

The EU has tried to resolve the dispute at the negotiating table. Brussels is now threatening US retaliation with a response because WTO’s arbitration has sided with the EU in a similar conflict over US subsidies to the Boeing concern.

As the WTO's official resolution on the dispute is expected in 2020, Brussels may already impose similar penalty duties on US goods in the upcoming year.

In 2018, the volume of trade between the US and the EU was established about 1.3 trillion dollars. For the US, EU countries remain the most important market for sales

As we reported earlier, the United States could leave the World Trade Organization. The reason is the stance of President Donald Trump who claims that many of the WTO member countries enjoy the undeserved status of developing countries, which also gives them certain preferences.

Related: U.S. gives ultimatum to EU and Canada in "trade war", - mass media

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