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May 29, 2017

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EU seeks huge sanctions against US over Boeing

BRUSSELS--The European Union said Thursday it was seeking authorization from the World Trade Organization to slap sanctions on the United States worth US$12 billion a year for illegal subsidies to Boeing.

A European Commission statement said the EU sought permission from the Geneva-based WTO's Dispute Settlement Body "to allow the imposition of countermeasures against the United States."

The US$12 billion amount (9.35 billion euros) was "based on estimates of the damages suffered by the EU due to unfair and biased competition from the U.S. industry," it added.

The EU asked for the matter to be discussed at a DSB meeting on Oct. 23.

An EU source said the 27-nation bloc had committed early this year not to apply sanctions without prior approval from the WTO.

Thursday's request to obtain this approval was "likely to take one to two years," the source added.

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