The Trump administration announced $7.5 billion in new tariffs on a variety of products from Europe. The U.S. Trade Representative's office released a list of hundreds of goods, including Scotch whiskey, French wine, German coffee, and Italian cheese, that will be subject to 25% tariffs. The tariffs are the result of a 15-year dispute between the U.S. and the European Union over aircraft subsidies.
The U.S. claims that European countries have improperly subsidized Airbus and, as a result cost Boeing billions of dollars. The tariffs were approved by the World Trade Organization and will go into effect on October 18.
"For years, Europe has been providing massive subsidies to Airbus that have seriously injured the U.S. aerospace industry and our workers," U.S. Trade Representative Robert Lighthizer said in a statement. "We expect to enter into negotiations with the European Union aimed at resolving this issue in a way that will benefit American workers."
President Donald Trump praised the ruling from the WTO on Twitter, calling it "a nice victory" for the United States.
The U.S. won a $7.5 Billion award from the World Trade Organization against the European Union, who has for many years treated the USA very badly on Trade due to Tariffs, Trade Barriers, and more. This case going on for years, a nice victory!
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