- EU wins right to impose tariffs on $4 billion in U.S. goods in retaliation for subsidies granted to Boeing.
- Development could stoke transatlantic trade tensions just weeks before the U.S. presidential election.
The European Union has won the right to impose tariffs on $4 billion in U.S. goods in retaliation for subsidies granted to planemaker Boeing under a World Trade Organization (WTO) ruling on Tuesday.
The award, which partially mirrors U.S. tariffs on Airbus jets and confirms a decision first reported by Reuters on Sept 30, threatens to stoke transatlantic trade tensions just three weeks before U.S. presidential elections on Nov. 3.
However, negotiators on both sides say it could also lead at last to discussions to resolve a 16-year legal battle.