The World Trade Organization said it would publish at 4 p.m. (1400 GMT) its decision on a U.S. request to take action against the European Union ...
BRUSSELS/LONDON: The World Trade Organization is poised on Wednesday to open the door to hefty U.S. tariffs on European goods over illegal subsidies for Airbus, pushing a 15-year-old row over support for plane giants to the center of fraught global trade relations.
A three-person WTO arbitration tribunal is expected to announce that the United States suffered harm equivalent to roughly US$7.5 billion a year from discounted European government loans for the Airbus A350 and A380 passenger jets - a decision that would allow Washington to hit goods worth the same amount.
The agency's provisional list of products that are eligible to be targeted covers goods with an annual trade value of US$25 billion and ranges from Airbus jets themselves to helicopters, wine, handbags and cheese.Before any tariffs are imposed, the WTO's Dispute Settlement Body must formally adopt the arbiters' report in a process expected to take between 10 days and 4 weeks.
Signs that the record corporate trade dispute involving Airbus and Boeing - the largest case ever handled by the WTO - is reaching a climax after years of arcane headlines and thousands of pages of rulings have weighed on European shares.
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