WTO will allow Europe to issue tariffs on $4 billion of US goods

The two sides have been locked in a 16-year-old dispute at the WTO over aid to their aircraft industries in a pair of cases that together represent the world’s largest corporate dispute.

Washington last year began imposing tariffs on $7.5 billion worth of EU goods over state support for Boeing’s rival Airbus.

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The World Trade Organization has authorised the European Union to impose tariffs on US goods worth $4 billion to retaliate against subsidies for American planemaker Boeing, people familiar with the matter said.

The two sides have been locked in a 16-year-old dispute at the WTO over aid to their aircraft industries in a pair of cases that together represent the world’s largest corporate dispute.

Washington last year began imposing tariffs on $7.5 billion worth of EU goods over state support for Boeing’s rival Airbus.

Sources on both sides believe that EU tariffs on products such as Boeing jets, were unlikely to be imposed before the November 3 presidential election in the US.

Airbus and Boeing declined to comment, saying the WTO report is currently confidential.

European sources said the latest award does not include some $4.2 billion of tariffs against the US left over from an earlier case, giving the EU $8.2 billion in total firepower.