Summary: On the 13th local time, the World Trade Organization ruled that the EU can impose countermeasures on up to nearly $4 billion (approximately 27 billion yuan) of US goods and services annually.
On the 13th local time, the World Trade Organization ruled that the EU can impose countermeasures on up to nearly $4 billion (approximately 27 billion yuan) of US goods and services annually.
According to trade officials in Geneva, because the United States failed to comply with the WTO ruling on government subsidies to Boeing, the EU may impose countermeasures on up to nearly $4 billion (approximately 27 billion yuan) of US goods and services annually. This amount corresponds to the losses suffered by the EU due to tax subsidies granted by Washington State to Boeing from September 2012 to September 2015, including three major lost sales by Airbus.
Previously, the EU had requested an annual countermeasure limit of approximately $8.58 billion, while the US proposed it should not exceed $411.8 million. The EU can now ask the WTO dispute settlement mechanism to authorize countermeasures against the US, with the amount based on the WTO ruling. Once authorized, the measures can take effect.