Boeing calls WTO ruling against EU's Airbus subsidy "landmark decision"

Boeing calls WTO ruling against EU's Airbus subsidy

(Boeing) Tuesday called as "a landmark decision" a ruling by the World Trade Organization (WTO) determining that the European Union (EU) has provided billions of USA dollars in subsidies to European aircraft maker Airbus.

"The authorized tariffs are likely to total billions in duties per year, unless and until Airbus addresses the illegal subsidies it received from European governments for its most recently launched airplanes", the company said in a statement. "The commercial success of products and services should be driven by their merits and not by market-distorting actions", said Boeing head Dennis Muilenburg.

The WTO's findings mark a stepping up of trade tensions between the USA and European Union, which are already wrangling over whether U.S. tariffs on aluminium and steel will apply to European products.

It is anticipated that US tariffs will be authorized up to the amount of annual harm the subsidies are determined to cause.

The disputed funding to Airbus has cost U.S. aerospace manufacturers "tens of billions of dollars in lost sales", U.S. Trade Representative Robert Lighthizer said in a statement. The bloc compounded the issue with below-market loans for the planemaker's marquee A350 jetliner.

The EU's Executive Commission said most of the aid faulted in earlier rounds of the long-running case had expired in 2011 and that it would swiftly comply on the remaining measures.

World Rugby-Romania Disqualified
This means that Germany are elevated to a match against Portugal on June 9 for a chance to meet Samoa in the final play-off. It goes in as the Europe 1 qualifier in Pool A, joining Ireland, Scotland, and Japan.

BA shares closed -0.7% in today's trade, while EADSY ended -1.9%.

"Despite Boeing's rhetoric, it is clear that their position today is straightforward healthy: they have half the market and a full order book, they have clearly not been damaged by Airbus repayable loans", Airbus CEO Tom Enders said.

In 2004, the United States lodged its original complaint with the WTO, claiming support of Airbus by France, Germany, Spain and the United Kingdom for the development of civilian airliners was unfair because it hurt USA -based Boeing's sales and market share.

The trade court in September ruled in Boeing's favor in another case brought by the European Union, overturning an earlier finding that $8.7 billion in state aid to Boeing for making the 777X in Washington was a prohibited subsidy. Boeing fell less than 1 percent to $342.10 at 11:43 a.m.in NY.

The US accused the European Union and the four countries of providing grants, preferential loans and other illegal aid to Airbus to help it to build its entire fleet of civilian aircraft, to the...

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