Trade

EU prepares €20B retaliation against US over Boeing subsidies

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The European Commission Wednesday said it wants to hit around €20 billion of U.S. exports with tariffs in retaliation for unlawful subsidies given by the U.S to American aircraft manufacturer Boeing.

The list covers a broad range of products including tractors, suitcases, frozen fish, fruits, wine, liquors and ketchup.

The publication of the list marks the next step in a yearslong World Trade Organization (WTO) fight between the EU and U.S. over subsidies for their planemakers Airbus and Boeing. The WTOs appellate body ruled in March that in at least one case, Boeing continued to benefit from a tax break given by Washington. The ruling opened the door for retaliation against the U.S.

Last year, the appellate body found Airbus also hadnt complied with a previous subsidy ruling. Washington earlier this month ratcheted up pressure on Brussels by releasing its own list covering about $11 bRead More – Source

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