The EU filed a request for the World Trade Organisation (WTO) to hit Boeing with $12bn in annual sanctions, arguing that the aircraft manufacturer has failed to address rules and regulations placed on it by the WTO in March 2012.
It is the biggest WTO penalty ever requested and follows the WTO panel’s finding that rival manufacturer Airbus had lost sales due to significant price suppression in the 200‑300 seat large aircraft market. Airbus claims to have lost $45bn in sales. The report in March confirmed the existence of illegal U.S. subsidies to Boeing –…
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