On 30 September 2020, the WTO approved the European Union's retaliatory tariffs on $4.1 billion worth of US goods, this is in addition to the previous unimplemented sanction allowing the EU the right to impose tariffs of up to $8.2 billion on US goods and services. On 11 October acting European Commissioner for Trade Valdis Dombrovskis urged the US to withdraw its tariffs, reiterating retaliatory action. Two days later on 13 October the WTO authorized the EU's tariffs. The next day, on 14 October, the US finally offered to remove their tariffs if Airbus would refinance the state loans at a level of interest that assumed a 50% product failure rate. The EU criticized the deal as "unacceptable" due to its cost estimated to be around $10 billion along with the impact of the COVID-19 pandemic on the aviation industry. The US argued that European tariffs on US goods were unnecessary as the local tax subsidies for Boeing had ended while Airbus countered that the US was still applying import tariffs even though the A380 was no longer in production. Further talks with the WTO regarding the tariffs are scheduled for 26 October, however, the tariffs may only go into effect depending on the results on the 2020 United States presidential election. On 9 November the WTO announced that the EU's tariffs would still go into effect, though the EU indicated it was hopeful a settlement could be reached with the new US administration in 2021. On 13 November Bruno Le Maire said a settlement could potentially be reached in several weeks. Both sides resumed negotiations on 2 December. In an attempt to reduce tensions, the United Kingdom dropped its own tariffs on US goods on 8 December.