EU Tariff Update

Reuters and CNBC have both issued updates on the potential for retaliatory tariffs on EU Products. Reuters has reported that they expect the WTO will publish a decision on the US request to take action by 4pm EST (1400 GMT) today. EU Trade Commissioner Cecilia Malmstrom told CNBC that US tariffs may be introduced in October, and confirmed the expectation that the ruling will be released today.

The decision on corresponding damages in the Boeing case which would open the door for the EU to place tariffs on USA goods, is expected in a few months, and the hope is that the threat of these tariffs could bring the parties to the negotiating table. Malmstrom states that her “Plan A” is to find a way to avoid tariffs and negotiate a resolution rather than escalate tensions.

We will send another update as soon as we hear further news. Please feel free to reach out to us if you have any questions.