The WTO has confirmed that the USA can impose tariffs on $7.5 Billion worth of goods from the EU, the largest amount ever awarded in a WTO case. The U.S. Trade Representative will now review and refine the list of items to be hit with tariffs, but, as we know, alcoholic beverages are currently included on the list.
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Reuters and CNBC have both issued updates on the potential for retaliatory tariffs on EU Products. Reuters has reported that they expect the WTO will publish a decision on the US request to take action by 4pm EST (1400 GMT) today.
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As we continue to wait for the results of the WTO dispute settlement council and potential retaliatory tariffs on imports of EU wine, spirits, and beer, we at least can offer good news for export
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The WTO (World Trade Organization) has ruled on the long pending Airbus case in favor of the USA, opening the door for the US to impose new tariffs on EU products. It is expected that the allowable amount will be decided by September 30th. Washington has stated that they expect to impose tariffs on $11 billion in EU exports.
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