The World Trade Organization (WTO) is expected to allow the U.S. to hit European imports with $7.5 billion in tariffs over a 15-year old aircraft subsidy dispute, according to a report from IEG Policy.
The tariffs on European Union (EU) goods are expected to include dairy, fruit, meat, whiskey and wine exports.
The U.S. requested a much larger amount, but the WTO typically trims those requested levels.
Meanwhile, the EU is expected to get a green light from the WTO to hit U.S. goods with tariffs in response to a WTO ruling against subsidies to Boeing. But, the U.S. will be able to impose its tariffs first as the case against Airbus is eight months ahead of the EU’s case on Boeing.
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