ICYMI: US President Trump almost certain to announce tariffs on European products soon
Politico citing unnamed sources for the story
- United States has gotten the green light to impose billions of euros in punitive tariffs on EU products in retaliation for illegal subsidies granted to European aerospace giant Airbus
- our EU officials told POLITICO that the World Trade Organization ruled in favor of the U.S. in the long-running transatlantic dispute and sent its confidential decision to Brussels and Washington on Friday
- The decision means that U.S. President Donald Trump will almost certainly soon announce tariffs on European products ranging from cheeses to Airbus planes.
- One official said Trump had won the right to collect a total of between €5 billion and €8 billion. Another said the maximum sum was close to $10 billion.
The extra tariffs on the UE have been rumoured for some time. A EUR negative but not as much as if they were a surprise.