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Boeing Backs WTO ruling against Airbus

CNC
Added On May 17, 2018

The World Trade Organization has ruled that the EU has failed to stop illegal subsidies to European aircraft manufacturer Airbus.
 
U.S. plane maker Boeing has called the ruling "a landmark decision".
 
The US Trade Representative said the ruling opens the way for placing tariffs on EU goods.
 
He argued that European countries had given 22 billion dollars in state aid to Airbus, causing losses to US rival Boeing.
 
The European Commission said most of the disputed support ended in 2011.
 
However, on Tuesday, the WTO dismissed an appeal by Airbus, saying the European plane maker had failed to fix the harm done to US rival Boeing.
 
Boeing said the United States is expected to levy billions of retaliatory tariffs on European exports, possibly the largest ever, which could come as early as 2019.