LONDON — The European Union will slap tariffs on up to $4 billion worth of U.S. products Monday, after what it described as a “lack of progress” from America on resolving a long-standing dispute over aircraft subsidies.
The EU and the U.S. have been at odds over the issue since 2006. The World Trade Organization agreed last year that the EU did not follow best trade practices when granting aid to Airbus. In light of that decision, the U.S. imposed duties on $7.5 billion of imported goods from Europe.
Last month, the WTO also ruled that the United States did not comply with international rules when providing subsidies to Boeing. As a result, the EU has said it is now going ahead with up to $4 billion in tariffs.
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