GENEVA (AP) — The World Trade Organization (WTO) has formally given the go-ahead for the United States (US) to impose trade sanctions on up to USD7.5 billion worth of European Union goods following a ruling that European plane maker Airbus received illegal subsidies.
The move by the trade body’s dispute settlement body was largely a formality after the long-awaited October 2 ruling by a WTO arbitration panel.
For that ruling to be blocked, every country including the US that attended the settlement body’s meeting yesterday would have had to reject it. The record USD7.5 billion ruling found that the European bloc and member states Britain, France, Germany and Spain failed to remove improper subsidies for Airbus that hindered sales by US rival Boeing.
The Trump administration plans to impose the sanctions starting on Friday.