(MENAFN) The European Union seeks to impose USD12 billion annual trade sanctions on the US in Boeing dispute, Reuters reported.
The World Trade Organization (WTO) said it received a request from the 27-nation bloc for the right to impose the trade sanctions on the US over illegal subsidies to planemaker Boeing.
The EU said in a statement that the US had not removed its illegal subsidies in the aircraft sector, as required by the WTO rulings that clearly condemned US subsidies to Boeing.
The EU based the USD12 billion figure on estimates of the damages suffered by the EU due to unfair and biased competition from the US industry.
The request is the latest legal move in the world's biggest trade dispute over subsidies for Boeing and its European rival Airbus, which has lasted more than seven years so far.
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