Reference News Network, October 30 - According to AFP, on October 29, the World Trade Organization (WTO) arbitration panel ruled that the European Union can impose countermeasures of up to a maximum of $13.64 million annually against U.S. goods to compensate for losses caused by the U.S. tariff on Spanish olives.

The WTO stated in its ruling: "The EU may request the Dispute Settlement Body to authorize the suspension of trade concessions or other obligations to the U.S. annually, amounting to no more than $13.64 million."

This amount can be adjusted for inflation, but it is far less than the $35 million per year that the EU sought as countermeasures.

The report said that Washington cannot appeal this ruling. Whether to implement countermeasures against U.S. products will be decided by Brussels.

During President Trump's first term, the U.S. government imposed additional tariffs on Spanish olive products in 2018, citing that Spanish olives received subsidies and were sold at prices below their actual value in the U.S. market.

The European Commission, which oversees the EU's common trade policy, filed a complaint with the WTO. In 2021, the WTO dispute settlement panel ruled that the U.S. high import tariffs on Spanish olives violated international trade law and required the U.S. to correct this practice.

Washington did not appeal the ruling and later claimed it had made the necessary adjustments. However, the EU did not accept this and requested the WTO panel to assess the situation.

In February 2024, the panel ruled that the EU had proven "that the measures taken by the U.S. do not conform to the recommendations and rulings adopted by the Dispute Settlement Body."

The report pointed out that according to WTO rules, if one party is found to have violated the rules, it must immediately correct the issue. If it does not, the complainant may take retaliatory measures. The EU requested the WTO's authorization to take countermeasures in November 2024. (Translated by Guo Jun)

World Trade Organization Building (AFP photo)

Original article: https://www.toutiao.com/article/7566919103286379049/

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