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EU Declares Win in Airliner Trade Spat With US

16 May 2018

The EU will now take "swift action to ensure it is fully in line with the WTO's final decision in this case", she said.

The decision could further ramp up tensions between the US and Europe, which have been stoked by President TrumpDonald John TrumpAvenatti defends right to release Cohen's financial info Pruitt's 24/7 security requested over fears of Trump policy backlash Senate GOP anger over McCain insult grows MORE's criticism of EU trade policies, his refusal to provide a permanent exemption for tariffs on European steel and aluminum imports and last week's decision to leave the Iran nuclear deal.

Malmstrom added: "Also, we look forward to the upcoming ruling by the appellate body on USA compliance with the WTO findings of the massive and persistent government support to Boeing".

The ruling comes at a time of heightened trade tensions between the United States and the European Union, with US President Donald Trump planning to impose tariffs in imports of steel and aluminum.

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

The United States has accused European governments of providing favorable loans to Airbus for its A380 superjumbo and the A350 long-range jet that compete with Boeing's 747 jumbo jet and 787 Dreamliner, respectively.

"Despite Boeing's rhetoric, it is clear that their position today is straightforward healthy: they have half the market and a full order book, they have clearly not been damaged by Airbus repayable loans", Airbus CEO Tom Enders said in a statement.

It has been predicted that the tarrifa of Boeing could reach billions of dollars a year starting as early as 2019.

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For its part, Airbus emphasized that the "WTO has now dismissed in their entirety 94% of Boeing's original claims" and focused on the "much more interesting part - on Boeing's more egregious and competition-damaging subsidies", which the WTO has not yet finished ruling on. The stock fell 0.9 percent to 96.25 euros at the close in Paris. Boeing fell less than 1 percent to $342.09 at 12:37 p.m.in NY, recovering from losses logged before the decision was issued.

The WTO dismissed the appeal from Airbus in its marathon spat with U.S. rival Boeing, both of which have accused each other of receiving illegal subsidies.

-With assistance from Andrew Mayeda.

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EU Declares Win in Airliner Trade Spat With US