The EU is reportedly considering tariffs on $4 billion worth of US products
- The European Union is reportedly considering hitting the US with $4 billion worth of new tariffs.
- Bloomberg reported Wednesday European officials could use 22-year-old World Trade Organization dispute over subsidies to justify the tariffs, even though that claim had been resolved in 2006.
- That move would likely deepen one front in a long-running trade dispute between the transatlantic allies.
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The European Union is reportedly considering hitting the US with $4 billion worth of new tariffs, potentially deepening one front in a long-running trade dispute between the transatlantic allies.
Bloomberg reported Wednesday European officials could use 22-year-old World Trade Organization dispute over subsidies to justify the tariffs, even though that claim had been resolved in 2006.
The European Commission and the Office of the US Trade Representative did not immediately respond to requests for comment.
The two sides have been in a standoff over EU-based Airbus and US-based Boeing for decades, with each country claiming that the aircraft companies are illicitly aided by government funds. This year, the US threatened to impose sweeping tariffs on the bloc as a result of that issue. The EU was expected to retaliate following a similar WTO ruling.
President Donald Trump and European Commission President Jean-Claude Juncker have been locked in a broader trade dispute for more than a year, but progress toward a long-term agreement has proven challenging.
The EU proposal has not yet been officially agreed to, according to Bloomberg, and faced opposition from at least one member of the bloc.