Boeing Statement on WTO Ruling

Boeing Statement on WTO Ruling

In a statement issued Tuesday, Boeing said Airbus provided more than $22 billion in illegal subsidies, and until its European rival addresses those damages, "it is anticipated that USA tariffs will be authorized up to the amount of annual harm this market-distorting tactic is causing". "The commercial success of products and services should be driven by their merits and not by market-distorting actions", said Dennis Muilenburg, Boeing chairman, president and CEO.

Bob Novick, a legal counsel for Boeing, told reporters that the subsidies led to lost sales and that the United States will be free to decide over the next several months what European products will be targeted for tariffs to apply maximum pressure to ensure compliance.

A second ruling, about alleged subsidies for Boeing aircraft, is expected later this year.

"This landmark ruling by the WTO Appellate Body is the final decision in this case, which was initiated in 2006", the release said. After examining this case for more than a decade, the WTO has determined the European Union must end its unfair business practices and remedy the ongoing harm caused by the illegal subsidies.

The size of USA tariffs to be allowed will be determined through a WTO arbitration process, and will be based on the annual harm to US and Boeing - losses that the USA had previously pegged as ranging from $7 billion to $10 billion a year.

Boeing said it anticipated that United States tariffs up to the amount of harm from the subsidies could be scheduled as early as 2019.

European Trade Commissioner Cecilia Malmstroem said that the ruling rejected "the vast majority" of claims by the United States and Boeing.

The WTO found that the European Union didn't stop giving Airbus subsidies to build its A380 and A350 widebody jets, despite saying it ended the financing in 2011. NJ gov signs bill to skirt GOP tax law provision MORE (R-Texas) said in a statement. "That ends today", he said.

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

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