Europe slams ‘exaggerated’ US tariff threat and prepares to retaliate
(Worthy News) – The EU has hit back at new U.S. proposals to target European goods with tariffs, following a World Trade Organization (WTO) ruling over subsidies for Airbus.
Trade tensions between the EU and U.S. flared Monday after the U.S. said it’s considering $11 billion worth of retaliatory tariffs on a range of goods in response to illegal subsidies the EU granted to the aerospace firm.
The WTO ruled last year that these allowances had caused “adverse effects” to the U.S., with the decision coming after a long-running litigation battle between the Washington and Brussels over their respective aviation giants. [ Source: CNBC (Read More…) ]
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