Retaliatory duties for Airbus subsidies can be $10 billion a year

Boeing claimed the US could levy retaliatory duties against the European Union of up to $10 billion a year

US trade officials and Boeing declared victory today after the World Trade Organisation ruled the European Union had failed to end illegal subsidies for Airbus.

US Trade Representative Michael Froman said the WTO found that Airbus had won aircraft sales deals over Boeing in Europe, China, India and other countries helped by $22 billion in illegal subsidies from the European Union and member states.

"This report is a sweeping victory for the United States and its aerospace workers," said US Trade Representative Michael Froman said.

"We have long maintained that EU aircraft subsidies have cost American companies tens of billions of dollars in lost revenue, which this report clearly proves."

 

Boeing claimed that, as a result of the ruling today, the US could levy retaliatory duties against the European Union of up to $10 billion a year.