US rejects EU allegations of illegal Boeing subsidies
GENEVA (AFP) - The United States (US) shrugged off on Wednesday European Union (EU) plans to take the US back to the World Trade Organisation (WTO) over illegal subsidies to aerospace giant Boeing, accusing the EU of far greater handouts.
"On the one side we have $90 billion (S$111 billion) of illegal financing of Airbus by the EU and on the other side we have US$3 to US$4 billion for Boeing," said Michael Punke, US representative at the trade arbiter.
The US ambassador said it was "no surprise" the EU wanted WTO consultations after Brussels claimed that Washington failed to meet a Monday deadline to end illegal subsidies to Boeing - a measure imposed by the Geneva-based body in March.
"The process will follow its course," said Mr Punke, adding that "many of the subsidies are still in place in the EU, especially those for the development of the Airbus 380.