(MENAFN) The European Union launched a new trade dispute, charging the US of providing billions of dollars in unfair subsidiaries to help Boeing build its new 777X jet, The Peninsula Qatar reported.
The EU said that the US was breaking the WTO rules by offering vastly expanded tax incentives to the airplane maker, to ensure it develops, builds and sells its new model in the state of Washington.
Brussels said it had launched its request for consultations in response to a decision by Washington State in November 2013, to extend subsidies to Boeing originally granted through 2024 until 2040.
"The subsidies scheme extension is estimated to be worth USD8.7 billion and will be the largest subsidy for the civil aerospace industry in US history," the European Commission said in a statement.
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