Hot-Dip Galvanized Steel Market to Expand With 6.6% CAGR Through 2024 | Nation / World News

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Trump Administration Announces Tariffs on E.U. Imports

WASHINGTON — The Trump administration announced Wednesday that it will impose tariffs on $7.5 billion in European imports beginning Oct. 18 in a case involving European Union subsidies to the plane maker Airbus. The latest escalation in the administration’s tariffs will open a new chapter in the trade wars that are depressing the world economy and heightening fears of a global recession. It comes just as the Trump administration is in the midst of trying to negotiate a resolution to its high-stakes trade war with China. The administration received a green light earlier Wednesday from the World Trade Organization, which ruled that the United States could impose the tariffs as retaliation for illegal aid that the 28-country EU gave to Airbus in its competition with its American rival Boeing. Culminating a 15-year fight over the EU’s subsidizing of Airbus, the administration’s Office of the U.S. Trade Representative said it plans to publish a list of targeted products later Wednesday or on Thursday. A senior administration official, who spoke on condition of anonymity, said that EU aircraft will face a 10% tariff and other products a 25% import tax. The tariffs are intended to pres...