EU says US gave Boeing $23.7 bln in illegal aid

[Dover]

Source: Reuters

Khaleej Times Online >> News >> BUSINESS

EU says US gave Boeing $23.7 bln in illegal aid
(Reuters)

22 March 2007

GENEVA - Boeing has benefited from $23.7 billion in illegal state aid, the European Union said on Thursday, hitting back at the United States in a tit-for-tat row at the World Trade Organisation (WTO) over plane subsidies.

This aid hurt European consortium Airbus and let Boeing undercut its rival in the battle for sales in the big plane market, the EU said in written evidence to the WTO panel probing its complaint against Washington.

“The EU’s submission exposes in detail the massive, long-standing and WTO-inconsistent subsidisation of Boeing’s civil aircraft division,” the 27-state bloc said in a statement.

The world’s two largest economies have brought separate cases alleging illegal assistance to their aircraft industries in what is the biggest commercial dispute ever to come before the global trade arbitrator.

The United States accuses Europe of granting $100 billion in illegal aid to Airbus over the years of which it will seek the immediate return of some $4.5 billion if it wins...>




Read more: http://www.reuters.com/article/ousiv/idUSL2216792720070322

[Horse with no Name]

1. *Rolling Eyes* Will someone PLEASE tell them furriners

that we don't HAVE to play by no stinking rules.

[enid602]

2. EU

I sure hope the EU is wrong on this one, but would not be surprised if they are right. Considering that Boeing is also (believe) the second largest military supplier, makes you wonder how much money they got all told. Talk about becoming dependent on the government!

[Sen. Walter Sobchak]

3. both Boeing and Airbus are filthy,

and nobody is going to win this pissing contest at the WTO because the WTO will find against both Boeing and Airbus, sort of like going to mommy to tattle on your brother only to find both of you locked in your rooms.

[itsrobert]

4. AirBus is losing to Boeing because

Boeing knows what they are doing and AirBus is crap.

[RUMMYisFROSTED]

5. Airbus isn't subsidized.

No, really.