BREAKING NEWS

US presses European Union on Airbus subsidy compliance

By REUTERS

JANUARY 14, 2012 04:35

The United States pressed the European Union on Friday for hard evidence that it has complied with a trade ruling on subsidies to plane maker Airbus in a showdown that could kick off the next stage in the world's largest and costliest trade dispute.

Officials from both sides said they met in Geneva to review the EU's response to a ruling by the World Trade Organization that the EU gave billions of dollars of unfair aid to Airbus, harming the interests of rival Boeing Co.

The EU's trade spokesman confirmed the two sides had held formal consultations but made no further comment. Afterward, the WTO announced on its website that an arbitrator had been appointed to assess the EU's compliance plan.

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