Earlier this month (October), a WTO arbitrator gave the United States the green light to impose tariffs on $7.5 billion worth of European Union imports.
The recent move comes as a milestone moment in the 15-year legal battle between Airbus and American plane-maker Boeing.
The arbitrator’s award- the largest in the organisation’s history- was rubber-stamped by the WTO’s Dispute Settle Body (DSB) at a special DSB meeting.
When the tariffs could be in place?
According to reports, the new tariffs could be in place by October 18. The new tariffs may target a range of Consumer products including French wine.
Is Negotiated settlement possible?
EU officials however have indicated that they are trying to reach a negotiated settlement with the United States to avoid intensifying trade tensions that risk hammering economies across the globe.
What if negotiations fail?
If negotiations with the United States fail to produce a deal, the EU will get the chance to impose its own WTO-approved tariffs on US products.