EU threatens $12 bn in tariffs over US Boeing subsidies

The EU on Wednesday unveiled a wide-ranging list of US-made goods, from beeswax to car parts, subject to tariffs in retaliation for subsidies to Boeing as a transatlantic trade war risked re-erupting.

“European companies must be able to compete on fair and equal terms… We must continue to defend a level-playing field for our industry,” said EU Trade Commissioner Cecilia Malmstrom in a statement.

Europe’s $12 billion claim against Boeing comes on the trail of a similar demand by the US for $11 billion in compensation for EU subsidies towards Airbus.

The ultimate amount to be won by both sides will be determined by the World Trade Organisation, with the final sums likely to be far below the tit-for-tat demands by the EU and US.