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European Union to impose tariffs on $4B of U.S. goods

European Union to impose tariffs on $4B of U.S. goods
The European Union flag waving in front of the European Parliament building in Brussels. The bloc said Monday it will impose sanctions on $4 billion worth of goods from the United States. Photo by Symbiot/Shutterstock

Nov. 9 (UPI) -- The European Union said Monday it plans to place tariffs on $3.99 billion of U.S. goods, including Boeing jets and other items in a long-running dispute, but Germany may ask for a delay.

The EU had paused placing the tariffs after the World Trade Organization ruled in its favor on Oct. 13, wanting to wait until after the U.S. elections.

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The dispute has been brewing over the past 16 years over subsidies given to Boeing and its European rival Airbus, which have been ruled illegal.

"We need a large and broad industrial tariff deal between the U.S. and the EU," German Economy Minister Peter Altmaier said on Monday. "Such an offer is on the table, and it is more than fair that we give the U.S. administration the opportunity to prepare itself for it once it is in office."

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The European Commission's Executive Vice-President for the Foreign Affairs Council Valdis Dombrovskis expressed frustration with trying to work out a deal and called on the United States to bilaterally drop tariffs.

"We have made clear at every stage that we want to settle this long-running issue, Dombrovskis said in a statement. "Regrettably, in spite of our best efforts, due to lack of progress from the U.S. side, we can confirm that the European Union will later today exercise our rights and impose the countermeasures awarded to us by the WTO in respect of Boeing."

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He said the Trump administration had placed tariffs on EU goods for more than a year.

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"We call on the U.S. to agree that both sides drop existing countermeasures with immediate effect so that we can quickly put the issue behind us," Dombrovskis said. "Removing these tariffs would represent a strong win-win for both sides. We now have an opportunity to reboot our transatlantic cooperation and work together towards our shared goals."

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