STORY HIGHLIGHTS


EU takes countermeasures against U.S. exports

CNC
Added On November 10, 2020

According to the European Commission on Monday, the measures will take effect on November 10. The commission said additional tariffs will be slapped on products ranging from aircraft parts to agricultural, and industrial goods, and the rates will mirror the U.S. tariffs. The decision came after the World Trade Organisation in October authorized the EU to take countermeasures against "illegal subsidies" granted to the U.S. aircraft maker Boeing. In October last year, following a similar WTO decision in a parallel case on Airbus subsidies, Washington started to impose retaliatory duties that affect EU exports worth 7.5 billion dollars. The European Commission underlined that the goal was not to escalate the situation but rather to reciprocate and mirror the U.S. measures as much as possible to protect EU products.