WTO ON WEDNESDAY ISSUED RULING ON 15-YEAR-LONG U.S. TRADE CASE VS. AIRBUS

WTO SAYS U.S. CAN RETALIATE AGAINST $7.5B IN EU GOODS A YEAR

U.S. EXPECTED TO IMPOSE TARIFFS ON EU BEFORE NEGOTIATING SETTLEMENT

U.S. HAS RIGHT TO RETALIATE FOR ILLEGAL EU SUBSIDIES TO AIRBUS -WTO

The decision represents one of the last hurdles before the U.S. can announce which products from the European Union it will target with tariffs selected from an initial list that includes:

Airbus planes and parts

Wine and spirits produced by LVMH, Remy Cointreau SA, Pernod Ricard SA and Diageo PLC

Leather goods manufactured by Christian Dior SE and Hermes International

The new tariffs can take effect after the WTO adopts the report, which is expected to happen at a meeting in Geneva this month. According to Bloomberg, the award is the largest in WTO history, and is nearly twice as large as the previous record of $4.04 billion set in 2002.