Cecilia Malmström, the outgoing EU trade commissioner, said any such move would hurt “businesses and citizens on both sides of the Atlantic and harm global trade” VIRGINIA MAYO/APEuropean goods worth $7.5 billion are set to face American tariffs after the World Trade Organisation gave Washington the green light for the latest salvo in a long-running battle over aviation subsidies. The Geneva-based arbitrator paved the way for the United States to target products, from aircraft and ceramics to Scotch whisky and clothes, with steep duties in response to the European Union’s illegal support for Airbus. The ruling will exert further pressure on relations between the White House and Brussels as trade tensions continue to escalate and global economic growth slows. While the US government had requested permission for the right to introduce levies on European goods worth $11.2 billion, an arbitration tribunal lowered the bar by $3.7 billion. Locked in the world’s largest…

Source: The Times October 02, 2019 16:07 UTC