The European Union is poised to move next week to impose tariffs on US$ 4 billion of U.S. imports in retaliation for U.S. subsidies for plane-maker Boeing, EU diplomats said, teeing up an eleventh-hour showdown with U.S. President Donald Trump.
A bulk of EU federal governments have backed imposing the widely anticipated tariffs once EU trade ministers satisfy next Monday, the current twist in a trans-Atlantic trade saga that has covered 16 years and 4 U.S. presidents.
Democratic governmental prospect Joe Biden is edging better to victory in the U.S. election, but Republican Trump would remain president until January 20 and has plenty of freedom to increase U.S. tariffs on Europe that were enforced in a parallel case over aids for Jet. U.S. Trade Representative Robert Lighthizer last month warned that any EU tariffs would “require a U.S. response” and Trump has actually threatened to “strike back harder.”
Brussels sees its own tariffs, licensed by the World Trade Organization last month, as crucial take advantage of in settlements to end a disput