Boeing Subsidies Merit EU Tariffs on $4 Billion in U.S. Goods, WTO Rules
October 13 2020 - 10:41AM
Dow Jones News
By Doug Cameron and Daniel Michaels
The World Trade Organization on Tuesday said the European Union
may impose tariffs on $3.99 billion in Boeing Co. jets and other
U.S. goods as part of a long-running trade dispute.
The ruling clears the way for the EU to respond to tariffs that
the trade body last October authorized the U.S. to impose on $7.5
billion in Airbus SE jets and other imported European products.
Washington in 2004 took European countries to the WTO over
subsidies to Airbus, and Europe responded soon after with a case
against U.S. support to Boeing.
WTO rulings since then have found that both sides provided
prohibited subsidies, but Europe did so to a greater extent.
EU officials have recently said they hope to negotiate a
settlement with Washington, so many observers expect Europe to
refrain from levying tariffs quickly. The EU last year said it had
prepared a preliminary list of U.S. products to target for
retaliation, if necessary.
The U.S. Trade Representative and Boeing have said Tuesday's WTO
ruling has no impact because the underlying violation -- a tax
break in Washington state -- has been repealed.
Write to Doug Cameron at doug.cameron@wsj.com and Daniel
Michaels at daniel.michaels@wsj.com
(END) Dow Jones Newswires
October 13, 2020 10:26 ET (14:26 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Boeing (NYSE:BA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Boeing (NYSE:BA)
Historical Stock Chart
From Jul 2023 to Jul 2024