The WTO ruled that the U.S. could apply tariffs on up to $7.5 billion in goods from the European Union (EU) in response to the EU failing to change subsidies for Airbus that were found in violation of WTO rules.
While the U.S. can request WTO permission to impose the duties at the next Dispute Settlement Body (DSB) meeting October 28, a senior U.S. Trade Representative (USTR) official said the U.S. was asking for a special meeting of the DSB Oct. 14 to formally adopt the ruling, clearing the way for the U.S. to impose the retaliatory tariffs Oct. 18.
The U.S. will impose tariffs on the full $7.5 billion worth of goods authorized by the WTO decision, the WSJ said. The tariff rates, however, will not be 100%. Instead, the U.S. would set a 10% tariff on large commercial aircraft and 25% on agricultural and industrial goods, according to the official.
The list of those goods to be targeted was released, but the final list will be set when published in the Federal Register.
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