WTO Members Endorse $4 Billion in Retaliation Against US
The World Trade Organization member countries cleared the way for the European Union to impose tariffs on $4 billion worth of U.S. exports because of past tax breaks for the Boeing Company. In the EU's Oct. 26 response to the…
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development, Trade Commissioner Valdis Dombrovskis reiterated that the EU would prefer a settlement that drops tariffs on EU goods rather than imposing tariffs on U.S. exports. “The European Commission is preparing the countermeasures, in close consultation with our Member States. As I have made clear all along, our preferred outcome is a negotiated settlement with the U.S. To that end, we continue to engage intensively with our American counterparts, and I am in regular contact with U.S. Trade Representative Robert E. Lighthizer,” he said in the release.