The European Union said that it would seek to impose sanctions of up to $12 billion a year against the United States for its government subsidies to Boeing. The European Commission said that it wanted to impose the sanctions as compensation for the illegal subsidies to Boeing that gave the company an unfair advantage over Airbus.
This could be in retaliation for a similar trade threat that Washington made against Europe. This is the latest issue in the seven year battle regarding aircraft subsidies.
World Trade Organization appellate body affirmed in March that Boeing did get at least $5 billion in improper subsidies from the US government to develop the 787 Dreamliner and other aircraft. It also concluded that Airbus got improper subsidies from the European governments. The WTO ordered both parties to end the subsidies.
Source: http://www.paydayloansmag.com/12-billion-a-year-against-the-united-states-for-government-subsidies/
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