I'm probably missing something in the long saga of the Airbus-Boeing WTO complaints, but today the BBC reported that:
The US has been given the go-ahead to impose tariffs on $7.5bn (£6.1bn) of goods it imports from the EU.
It is the latest chapter in a 15-year battle between the US and the EU over illegal subsidies for planemakers Airbus and rival Boeing.
The ruling by the World Trade Organization (WTO) could mean tariffs on EU goods ranging from aircraft parts to cheese and salmon fillets.
Brussels has threatened to retaliate similarly against US products.
The US first filed the case against Airbus in 2004, arguing that cheap European loans for Airbus amounted to illegal state subsidies.
The WTO decided in favour of the US, which subsequently complained that the EU and certain member countries were not in compliance with the decision, prompting years of further wrangling.
While the US had wanted to impose tariffs on $11bn worth of EU imports in retaliation for the aid to Airbus, the WTO cut that figure to $7.5bn - still the largest penalty of its kind in WTO history.
The WTO's dispute settlement body must formally adopt the ruling but is not expected to overturn the decision.
Since the EU usually abides by WTO decisions, how come they are still threatening to retaliate over those WTO-blessed tariffs? Or maybe I'm misreading the timeline here and they only threatened to retaliate if the US raised tariffs before this final WTO decision?
Actually the story then says
"But if the US decides to impose WTO authorised countermeasures, it will be pushing the EU into a situation where we will have no other option than do the same," the European Commission said.
This suggest that in the Boeing WTO decision, the WTO allowed the EU to impose its own retaliatory tariffs. Is that the gist of the story here? Is the EU hoping to "cancel out" WTO-authorised retaliatory tariffs on both sides?