Diplomats: WTO has decided penalties for Boeing subsidies

0
15

Geneva, Sept. 30, 2020 (dpa/Naija247news) The World Trade Organisation (WTO) has set the amount of punitive measures that the EU is allowed to take against U.S. subsidies for aircraft maker Boeing, diplomatic sources said on Wednesday, without disclosing details.

The decision comes after years of dispute between Brussels and Washington, which have accused each other of unfair state support for the world’s two largest aircraft companies, the European Airbus consortium and its U.S. rival Boeing.

In October 2019, the WTO in Geneva issued a similar decision regarding Airbus, which entitles the U.S. to impose retaliatory tariffs on 7.5 billion dollars of EU products per year.

According to financial newswire reports, the new WTO ruling allows EU duties on only 4 billion dollars of U.S. goods.

The European bloc had hoped for three times that amount.

The diplomatic sources said that the latest WTO decision was sent to the U.S. administration in Washington and the European Commission in Brussels on Monday, but it is set to be made public only in mid-October.

The delay is not designed to give room for last-minute negotiations but to delete possible confidential corporate information on Boeing from the WTO decision text, according to the sources.

This site uses Akismet to reduce spam. Learn how your comment data is processed.