Brussels, Nov. 9, (dpa/GNA) – The European Union will impose tariffs on US products in the dispute surrounding aircraft manufacturers Airbus and Boeing, European Commission Vice President, Valdis Dombrovskis announced on Monday.
A recent World Trade Organization ruling permitted the EU to impose tariffs, Dombrovskis said.
“And that’s what we are doing,” he said.
The ruling, issued in mid-October, allows the EU to impose tariffs worth nearly 4 billion dollars (3.37 billion euros) on US imports annually to retaliate against unfair aircraft subsidies.
The EU would remain open to negotiations, however, with the commission advocating for both sides to drop tariffs on each others products, Dombrovskis said.
In a similar case, the WTO authorized the US in 2019 to impose tariffs on EU products worth up to 7.5 billion dollars (6.3 billion euros) in response to illegal state aid to European plane-maker, Airbus.
GNA