BRUSSELS --- The European Union will take decisive action against the United States if it is unwilling to settle a long-running row over aircraft subsidies and presses ahead with a series of new trade investigations, Europe’s trade commissioner said on Monday.
A trade dispute dating back to 2004 over subsidies for Europe’s Airbus and U.S. planemaker Boeing is drawing to a conclusion at the World Trade Organization (WTO).
It has already awarded Washington the right to impose duties on $7.5 billion of European goods related to subsidies given to Airbus but is only expected to rule in September what retaliation Europe can take over support for Boeing.
European Trade Commissioner Phil Hogan told the European Parliament’s trade committee that Washington had twice rejected EU proposals to settle the dispute and he hoped the WTO would issue its findings as soon as possible in September. (end of excerpt)
Click here for the full story, on the Reuters website.