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