EU nitrogen ferts excluded from US tariffs: Update

The US will not impose tariffs on nitrogen fertilizer imports from the EU after receiving approval from the World Trade Organization (WTO) to levy up to $7.5bn of penalties on EU goods.

Agricultural goods face a 25pc tariff, effective 18 October, include various meats, dairy products and produce, according the US Trade Representative's final product list released late today.

Large civil aircraft from the EU will face a 10pc tariff.

The USTR released in July a list of more than 70 products the US could tariff, ranging from nitrogen fertilizers to various metals.

The USTR also asked the WTO to schedule a meeting on 14 October to approve the US' countermeasures against the EU.