The EU asks the WTO permission to apply trade penalties of $12B a year on U.S. goods and...

|By:, SA News Editor

The EU asks the WTO permission to apply trade penalties of $12B a year on U.S. goods and services in retaliation for the latter's illegal subsidies to Boeing (BA). The U.S. had said it complied with Sunday's WTO deadline to withdraw $3B-$4B in unfair subsidies for the plane maker, but the EU - which isn't innocent of shoveling planeloads of cash in Airbus' direction - rejects the claim.