U.S. can hit EU with $7.5B tariffs

The World Trade Organization says the U.S. can move forward with plans to impose tariffs on some $7.5 billion worth of EU goods annually, to counteract years of European loans and illegal subsidies to Airbus. The decision comes after a 15-year dispute over European Union countries' roles in building Airbus into a global player — and a fierce competitor to U.S. aerospace giant Boeing. But the clash is far from over: The WTO will likely rule in the coming months on the EU's own request to levy tariffs on the U.S. over its aid to Boeing. The United States on Wednesday said it would slap 10 percent tariffs on European-made Airbus planes and 25 percent duties on French wine, Scotch and Irish whiskies, and cheese from across the continent as punishment for illegal EU aircraft subsidies. The size and scope of the tariffs were reduced considerably from a $25 billion list floated by Washington earlier this year that included helicopters, major aircraft components, seafood, luxury goods and other big-ticket categories that were excluded from Wednesday’s announcement. (Sources: multiple, including NPR, Reuters, CNBC, 10/02/19) The inclusion of major aircraft components would have impacted Airbus' Mobile, Ala., operation, which assembles A320 and A220 series jetliners. Previous