The World Trade Organization (WTO) has authorised the EU to impose $4bn worth of tariffs on US exports over Boeing aid.
The authorisation came after four previous WTO panel and appellate reports from 2011 to 2019 confirmed that subsidies to Boeing violate WTO rules.
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In 2018, the WTO ruled that the EU ignored various previous requests to end the offering of subsidies to European aircraft producer Airbus.
The latest decision from the WTO reveals that illegal subsidies to Boeing cost Airbus $4bn dollars in lost sales and market share annually.
Completing its public consultation on the planned countermeasures, the EU Commission has published the preliminary list of US products they will apply to, including Boeing aircraft.
Airbus CEO Guillaume Faury said: “Airbus did not start this WTO dispute, and we do not wish to continue the harm to the customers and suppliers of the aviation industry and to all other sectors impacted.
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By GlobalData“As we have already demonstrated, we remain prepared and ready to support a negotiation process that leads to a fair settlement.
“The WTO has now spoken, the EU can implement its countermeasures.
“It is time to find a solution now so that tariffs can be removed on both sides of the Atlantic.”
In August this year, the US Department of Transportation’s Federal Aviation Administration (FAA) proposed two civil penalties totalling $1.25m against Boeing.
