Cheese, Scotch and Coffee: A Big Win for Trump on Tariffs
President Donald Trump plans to slap punitive tariffs on about $7.5 billion worth of European aircraft, agricultural and industrial goods later this month after the United States won an important victory in a ruling before the global trade body that handles trade disputes.
The action brings a 15-year-old case one step closer to resolution while allowing Trump to impose tariffs with the official blessing of the World Trade Organization. That’s in contrast to his earlier actions that unilaterally set duties on steel and aluminum imports, which other countries believe violate global trade rules. . .
The WTO authorized the Trump administration to impose duties after it decided that the EU failed to completely end illegal loan subsidy programs for Airbus. The EU argues it has taken meaningful steps to comply and expects the WTO to validate that in a separate ruling.
The decision is the highest penalty ever granted by a WTO arbitrator. American officials said the United States would use the authority to impose a 10 percent tariff on Airbus aircraft and a 25 percent duty on various European agricultural and industrial goods effective Oct. 18. (Read more from “Cheese, Scotch and Coffee: A Big Win for Trump on Tariffs” HERE)
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