No valid basis for EU tariffs in Boeing-Airbus subsidy dispute: US to WTO

The WTO has found the world's two largest planemakers received billions of dollars of unfair subsidies in a pair of cases dating back to 2004

The United States told the World Trade Organization that there was "no valid basis" for the European Union to retaliate against US goods since it has fully complied with WTO findings that Washington state's now-repealed tax breaks for Boeing were illegal.

The formal submission to the WTO aims to neutralize the EU's demand for some $10 billion in annual retaliatory tariffs in a long-running Boeing-Airbus subsidy dispute, the US Trade Representative's office said, the Reuters reported.

The WTO has found the world's two largest planemakers received billions of dollars of unfair subsidies in a pair of cases dating back to