The European Union (EU) has imposed tariffs on certain imports from the US, with construction equipment on the list. The goods that have been taxed include self-propelled front-end shovel loaders; self-propelled front-end crawler shovel loaders; self-propelled front-end shovel loaders.
According to the EU, the tariffs have been authorized by the World Trade Organization (WTO) as countermeasures against illegal US subsidies to aircraft maker Boeing”.
Similarly, in 2019, the WTO authorized the US to impose tariffs on EU exports, in response to what it agreed were illegal subsidies paid to the Netherlands-headquartered aerospace company Airbus.
The additional tariffs imposed by the EU on US exports are expected to hit goods worth approximately $4 billion.
While the new regulation follows the latest breakdown in talks between the EU and US negotiating teams, the European Commission has agreed to work with the US to settle this long-running dispute and also to agree on long-term disciplines on aircraft subsidies.