Money EU still providing illegal subsidies to Airbus – World Trade Organisation

06:25  16 may  2018
06:25  16 may  2018 Source:   pressassociation.com

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Its European rival, Airbus , has been given billion over a period of decades. NEW YORK (CNNMoney) -- The World Trade Organization EU officials, for their part, argued the ruling confirms that the U.S. government has given Boeing billions of dollars of illegal subsidies under WTO rules.

A World Trade Organisation panel a called on the European Union to end illegal subsidies to Airbus , ratcheting up the stakes in the multi-trillion-dollar large aircraft market. The call came in a confidential 1,000-page ruling by the WTO panel in one of two cases in the trade dispute involving

It is the latest in a string of tussles between Europe’s Airbus and US rival Boeing (Steve Parsons/PA): It is the latest in a string of tussles between Europe's Airbus and US rival Boeing (Steve Parsons/PA) © Provided by The Press Association It is the latest in a string of tussles between Europe's Airbus and US rival Boeing (Steve Parsons/PA)

The European Union is continuing to provide illegal subsidies to plane maker Airbus, the World Trade Organisation’s (WTO) appellate body has ruled.

The WTO decision on the latest in a string of tussles between Europe’s Airbus and US rival Boeing comes as the Trump administration has exerted intense pressure on the Geneva-based organisation over what the president alleges is its “unfair” treatment of the United States.

The appellate body maintained a ruling by the WTO’s compliance panel that EU “launch aid” provided to Airbus resulted in lost sales for Boeing in the twin-aisle and very-large aircraft markets.

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BRUSSELS — The EU on Thursday appealed a decision by the World Trade Organisation ( WTO ) that found the European Union guilty, as charged by giant US rival Boeing, of providing illegal subsidies to Airbus .

For the last decade, the U.S. has pursued a case before the World Trade Organization ( WTO ) against illegal subsidies provided to Airbus by four European governments, which have given the European plane maker an unfair advantage in the global market.

The move means that the US, under WTO rules, can ask an arbitrator to determine the level of retaliation it can seek against the European bloc as a result of its failure to comply.

The Trump administration appeared ready to do just that.

“This report confirms once and for all that the EU has long ignored WTO rules, and even worse, EU aircraft subsidies have cost American aerospace companies tens of billions of dollars in lost revenue,” US Trade Representative Robert Lighthizer said in a statement.

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22, 2016: The World Trade Organization ( WTO ) today found that the European Union not only did not cure its previous finding that Airbus received illegal WTO Confirms EU Failed to Comply with Historic Rulings Against European Subsidies to Airbus , Condemns Additional Launch Aid to A350.

A World Trade Organization panel called on the European Union on Tuesday to end illegal subsidies to Airbus , ratcheting up the stakes in the multi-trillion-dollar large-aircraft market.

“Unless the EU finally takes action to stop breaking the rules and harming US interests, the United States will have to move forward with countermeasures on EU products,” he added.

The ruling centres on actions taken by the EU generally, as well as four of its member states: Britain, France, Germany and Spain.

Deciding on a case first opened in 2004, the appellate body found Airbus paid a lower interest rate on financing to develop the A350XWB aircraft than it would have gotten in the open market.

Boeing’s top executive appeared to praise the ruling, and said it was time for “all parties” to work for “the mutual health of our industry”.

“Today’s final ruling sends a clear message: Disregard for the rules and illegal subsidies is not tolerated,” said Boeing Chairman and CEO Dennis Muilenburg.

“The commercial success of products and services should be driven by their merits and not by market-distorting actions.”

European Trade Commissioner Cecilia Malmstroem insisted that the ruling also rejected “the vast majority” of US claims against it, while saying in a statement that the bloc “will now take swift action to ensure it is fully in line with the WTO’s final decision in this case”.

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