EU set to hit US products with tariffs

The European Union (EU) is preparing to tax up to $4bn of US goods in retaliation for state aid to Boeing, which was confirmed by the WTO before the US election. The Financial Times reports that the EU has now secured approval a list of targeted products from national governments, which will have tariffs imposed from next week, unless of course the US withdraws similar tariffs imposed on EU goods. The EU’s retaliation list covers aircraft as well as a range of other products, including tractors, gym equipment, casino tables and groundnuts, as well as grapefruit juice and orange juice.