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The World Trade Organization ruled in favor of the U.S. in a dispute over prohibited European aid for aerospace giant Airbus SE, but its unclear how large the retaliatory tariffs will be, Politico reported, citing four European Union officials.
Sent to Brussels and Washington on Friday, the decision by a WTO dispute settlement panel -- still confidential -- paves the way for the U.S. to impose billions of euros in punitive tariffs on EU products in retaliation for illegal subsidies granted to Airbus.
One official told Politico that the U.S. had won the right to collect a total of between 5 billion and 8 billion euros. Another said the maximum sum was close to $10 billion.
Both sides have a few weeks to add comments and delete any confidential business information before the ruling is officially adopted and made public.
The U.S. has already proposed tariffs of up to 100% on $25 billion worth of European goods stemming from the nearly 15-year trade dispute. In turn, the EU has pledged to target $12 billion in retaliatory tariffs of U.S. goods from ketchup to video-game consoles.
Officials with the EU and Airbus declined to comment on the WTO ruling to Politico.
Europe Braces for $7 Billion U.S. Tariff Hit Over Airbus Dispute
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