(Bloomberg) — The World Trade Organization on Monday formally authorized the U.S. to impose tariffs on about $7.5 billion worth of European exports annually in retaliation for illegal government aid to Airbus SE.Members approved this month’s arbitration award — the largest in the trade organization’s history — at a special meeting of the dispute settlement body at the WTO’s headquarters in Geneva. The development marks the final procedural hurdle before the U.S. can retaliate against European goods, which it plans to do on Oct. 18.The EU made a last-ditch appeal to the U.S. over the weekend to thwart the tariffs, …read more
Source:: Yahoo Finance
