President Trump to hit the EU with tariffs after victory in Airbus case - Politico
|The World Trade Organization (WTO) on Friday ruled in favor of the US in the long-running transatlantic dispute, opening doors for President Trump to impose billions of Euros in punitive tariffs on EU products in retaliation for illegal subsidies granted to European aerospace giant Airbus, according to Politico.
One EU official told Politico that Trump had won the right to collect a total of between €5 billion and €8 billion, while another said the maximum sum was close to $10 billion.
EU officials have warned that such a move would end up destroying US jobs. Also, EU's compliant alleging illegal US subsidies for Boeing is also being examined by the WTO and the ruling is expected in about eight months.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.