U.S. Will Impose Tariffs on $7.5 Billion of Goods from European Union

The Trump administration will impose tariffs on $7.5 billion of imports from the European Union on October 18

The new tariffs got the greenlight from the World Trade Organization on Wednesday in a ruling that said the U.S. was authorized to impose import duties as high as 100 percent on $7.5 billion worth of goods due to European subsidies for Airbus that violate international trade rules. The award is the largest in the history of the WTO.

The actual rates will be much lower than 100 percent, according to a senior administration official.  The officials said EU aircraft would face a 10 tariff, while agricultural and industrial products would receive a 25 percent tariffs.

The Office of the U.S. Trade Representative is expected to publish a an official list of E.U. goods to be tariffed on Wednesday or Thursday. The U.S. imported $488 billion of goods from the E.U. last year. Exports to the E.U. totaled $319 billion.