The World Trade Organization spat between the European Union and United States over aerospace manufacturing subsidies shows no signs of hitting the brakes.
The EU announced today that it would request permission from the WTO to levy sanctions of as much as $12 billion annually against the U.S. in light of Europe's claims that Boeing
The EU isn't satisfied, saying the U.S. has "not lived up to its obligation to remove its illegal subsidies in the aircraft sector."
This latest development comes after the U.S. petitioned the WTO for the right to levy up to $10 billion in sanctions against EU support of Boeing competitor Airbus. The sides have been squabbling at the WTO for seven years.
Boeing's stock didn't react considerably on the news as it inched lower by half a percentage point in early trading.