EU asks for $12 billion in sanctions against U.S.

Filed under: AM Roundup |

The European Union wants to impose annual trade sanctions up to $12 billion on the United States for what it says are illegal subsidies for Boeing, reports the Chicago Tribune.

The move to ask the World Trade Organization to levy the sanctions is the latest shot in a fight between the EU’s Airbus and Boeing. The legal fight has been going on for seven years.

The EU said the amount was the cost to EU business from what it characterized as unfair and biased trade subsidies.

For its part, the US has asked the WTO for $10 billion in sanctions against the EU.

Read more at the Chicago Tribune.