EU Didn't Remove Illegal Subsidies to Airbus, WTO Says

Date : 12/02/2019 @ 5:00PM
Source : Dow Jones News
Stock : Airbus SE (AIR)
Quote : 139.0  3.2 (2.36%) @ 4:39PM

EU Didn't Remove Illegal Subsidies to Airbus, WTO Says

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By Emre Peker

 

The European Union "maintained illegal subsidies" for aircraft-maker Airbus SE (AIR.FR), the World Trade Organization said Monday, rejecting for a second time the bloc's claim that it has complied with WTO rulings.

The EU failed to demonstrate that Germany, France, Spain and the U.K.--the four partners behind U.S.-based Boeing Co.'s (BA) European rival--had removed launch-aid and member-state financing found to be against WTO rules.

In October, the WTO authorized the U.S. to slap duties on $7.5 billion worth of European exports annually, until the EU complies with its rulings.

"The panel concluded that the EU and the four member states failed to bring its measures into conformity with its obligations," the WTO said, "and to this extent, that the adopted rulings remained operative."

 

Write to Emre Peker at emre.peker@wsj.com

 

(END) Dow Jones Newswires

December 02, 2019 11:45 ET (16:45 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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