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Analysts at TD Securities note that the USTR announced that it will implement tariffs on USD 7.5bn of European Union imports on October 18 following a favorable decision by the WTO, which granted the tariffs due to EU subsidies of Airbus.

Key Quotes

“The European Union will be awaiting a decision by the WTO on a related case against the US due to subsidies of Boeing. The latest decision opens the door to further escalation between both parties, as President Trump is expected to also make a judgment on whether to levy tariffs on EU cars and auto parts by November 13.”