The Trump administration via U.S. Trade Rep Robert Lighthizer and Commerce Secretary Wilbur Ross won a massive $7.5 billion award as an outcome of the World Trade Organization agreeing with the U.S. against the EU and Airbus subsidies.
This win sets the stage for President Trump to deploy $7.5 billion in countervailing duties against products from the EU. Keep in mind, a final WTO ruling means the EU cannot retaliate against any WTO-authorized countermeasures.
Think about it: at 25% the U.S. could tariff $30 billion in EU goods.
"For years, Europe has been providing massive subsidies to Airbus that have seriously injured the U.S. aerospace industry and our workers. Finally, after 15 years of litigation, the WTO has confirmed that the United States is entitled to impose countermeasures in response to the EU's illegal subsidies," U.S. Trade Representative Robert Lighthizer said.
The award of $7.5 billion annually is by far the largest award in WTO history-nearly twice the largest previous award.
The United States today has requested that the WTO schedule a meeting on October 14 to approve a U.S. request for authorization to take countermeasures against the EU. Pursuant to WTO rules, the WTO will provide this authorization automatically at that meeting.
The tariffs will be applied to a range of imports from EU Member States, with the bulk of the tariffs being applied to imports from France, Germany, Spain, and the United Kingdom - the four countries responsible for the illegal subsidies.
https://theconservativetreehouse.com/2019/10/03/massive-7-5-billion-u-s-award-from-wto-in-airbus-subsidy-case-sets-stage-for-countervailing-duties-against-eu/
This win sets the stage for President Trump to deploy $7.5 billion in countervailing duties against products from the EU. Keep in mind, a final WTO ruling means the EU cannot retaliate against any WTO-authorized countermeasures.
Think about it: at 25% the U.S. could tariff $30 billion in EU goods.
"For years, Europe has been providing massive subsidies to Airbus that have seriously injured the U.S. aerospace industry and our workers. Finally, after 15 years of litigation, the WTO has confirmed that the United States is entitled to impose countermeasures in response to the EU's illegal subsidies," U.S. Trade Representative Robert Lighthizer said.
The award of $7.5 billion annually is by far the largest award in WTO history-nearly twice the largest previous award.
The United States today has requested that the WTO schedule a meeting on October 14 to approve a U.S. request for authorization to take countermeasures against the EU. Pursuant to WTO rules, the WTO will provide this authorization automatically at that meeting.
The tariffs will be applied to a range of imports from EU Member States, with the bulk of the tariffs being applied to imports from France, Germany, Spain, and the United Kingdom - the four countries responsible for the illegal subsidies.
https://theconservativetreehouse.com/2019/10/03/massive-7-5-billion-u-s-award-from-wto-in-airbus-subsidy-case-sets-stage-for-countervailing-duties-against-eu/
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