Europe has been given World Trade Organization permission to place $4 billion worth of tariffs on the United States.
It has provided a list of items it might tax and it includes potatoes, soybean oil, wheat, fruits and vegetables, tobacco and wine.
The World Trade Organization decision flows from a finding that the U.S. broke trade rules to subsidize Boeing’s airplances.
There is a long-standing dispute about subsidies among Boeing, Airbus of Europe and Embraer of Europe that also included Bombardier of Canada.
This development could work to Canada’s advantage, especially since Canada has a new free trade agreement with the European Union.
