EU Appeals Own Victory Against U.S. Subsidies For Boeing
GENEVA (AP) — The European Union is appealing its own victory in a trade ruling against U.S. planemaker Boeing Co. by asking the World Trade Organization to toughen its condemnation of American subsidies for Boeing-made aircraft.
The ruling published Thursday based on EU complaints concluded Boeing received at least $5 billion in subsidies between 1989 and 2006 that were prohibited under international trade rules.
The EU alleged Boeing received at least $24 billion in improper subsidies.
Friday's appeal is also a tactical move that cuts the time the U.S. has to prepare its own appeal.
The WTO ruled in a separate U.S. complaint that Boeing's rival Airbus gained unfair advantage through billions worth of low-interest loans, grants and other provisions.