WTO EU Allows Retaliation Tariffs on US Retribution Exchanges Focused on Avoidance October 14, 7:57
The WTO (World Trade Organization) has allowed the EU-European Union, which is in conflict with the United States over support for aircraft manufacturers, to impose retaliatory tariffs of up to 420 billion yen annually.
However, the EU and the United States are calling on each other to stop taking countermeasures, and the focus is on avoiding a situation of retaliation.
Both have argued that they are unfair to each other over their respective support for the EU's "Airbus" and the US's "Boeing," and the WTO has made the final decision that both are hindering fair competition.
On top of that, the United States has been granted retaliatory tariffs of up to $ 7.5 billion a year, or about 790 billion yen, from the WTO, and last year it has already taken steps to add tariffs on wine and cheese from the EU.
Following this, the WTO approved the EU on the 13th to impose retaliatory tariffs of up to $ 4 billion annually and about 420 billion yen in Japanese yen on the United States.
The EU has so far made a list of eligible American products and has indicated its readiness to add tariffs on tractors and agricultural products.
However, the EU and the United States are both calling for the end of the preferential treatment for aircraft manufacturers and stopping the countermeasures against each other, and whether the new coronavirus can avoid retaliation while the economy is seriously hit. It will be the focus.