BREAKING NEWS

US threatens sanctions in Airbus spat with EU

WASHINGTON - The United States on Friday rejected a European Union plan to eliminate subsidies provided to Airbus, and said it would request authorization from the World Trade Organization to impose potentially billions of dollars annually in trade sanctions.
"The WTO clearly found that every single grant of launch aid to Airbus, for every single aircraft that company produced, was a WTO-inconsistent subsidy that caused unfair adverse effects to US industry and jobs," US Trade Representative Ron Kirk said in a statement.
"Our action today underscores what we have said all along - that the United States cannot accept anything less than an end to this subsidized financing," Kirk said.
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