Monday, March 12, 2012
The U.S. trade representative says the World Trade Organization has ruled that planemaker Boeing received far fewer illegal government subsidies than its European arch-rival Airbus over more than a quarter-century.
U.S. Trade Representative Ron Kirk called it "a tremendous victory for American manufacturers and workers" that a WTO appeals panel determined there were $5 billion in U.S. subsidies for Chicago-based Boeing -- "far below" $18 billion in European Union
subsidies for Airbus.
He said the WTO appellate panel found that illegal U.S. subsidies for Boeing cost Airbus 118 lost aircraft sales. By comparison, the EU subsidies for Airbus cost Boeing 342 lost aircraft sales.
The release of the WTO ruling was imminent. But both the U.S. and the EU have already claimed victory in the long-running trade spat.