The WTO has confirmed that a special meeting of the Dispute Settlement Body (DSB) will be held October 14 to consider the U.S. request to take retaliatory action against the European Union (EU) over subsidies the bloc has provided to Airbus – subsidies the WTO ruled were counter to EU trade commitments.
The WTO authorized the U.S. to take up to $7.5 billion in retaliatory actions against the WTO over the situation, the largest in WTO history.
The U.S. announced Tuesday it would put tariffs in place on a host of EU goods starting October 18, prompting the special meeting request of the DSB.
The action will be approved under what is called the "negative consensus" rule – the U.S. request can only be blocked if all members in attendance reject the request.
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