The World Trade Organization (WTO), on 13 October 2020, authorized the European Union (EU) to impose countermeasures on United States (US)-origin products due to illegal US subsidies granted to the US aircraft industry. The WTO determined that the level of countermeasures “commensurate with the degree and nature of the adverse effects determined to exist” amounts to nearly US$4 billion annually.
Following the WTO’s authorization, the EU was initially reluctant to impose countermeasures on US products as it was waiting for the outcome of the negotiations with the US before moving forward with countermeasures. However, on 9 November 2020, the EU decided to impose countermeasures on the US by increasing tariffs on US exports into the EU worth US$4 billion.
Source EY
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