The European Union is weighing up hitting a range of US goods with up to $21.5 billion (€19 billion) worth of tariffs as retaliation for subsidies given to aircraft manufacturer Boeing, according to reports.
The move would be the latest in a series of escalations in a long-running dispute which has seen Brussels and Washington accuse each other of gifting illegal subsidies to their flagship plane manufacturers.
The European Commission is set to send each member state a list of US products that could be affected by fresh duties. Brussels-headquartered news organization EURACTIV is reporting that the total value of these exports to the European market is around €19 billion.
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That figure is significantly higher than the European Commissions initial estimate of the damage caused by the Boeing subsidies. In 2012, it assessed that the potential amount would be approximately €12 billion. New York based Bloomberg reported on Friday that the tariffs will be worth $11.5 billion (€10.2 billion).
The list of goods is expected to be published for public consultation on Wednesday.
Earlier this week, US President Donald Trump threatened to hit $11 billiRead More
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