vegassports-odds.com
vegassports-odds.com May 20, 2018


WTO Rules $22Bln EU Subsidies to Airbus Illegal, Authorizes US Retaliation

16 May 2018, 05:25 | Melvin Schneider

Boeing: WTO Ruling Could Lead To Biggest Retaliatory Tariffs Ever

Airbus A380

One of longest-running and most bitterly contested trade disputes came to a head yesterday after the World Trade Organisation (WTO) ruled that the European Union illegally paid Airbus $18bn (£13.3bn) in subsidies, paving the way for retaliatory tariffs from the US. The appellate body also found Boeing sales were largely unscathed because subsidies of Airbus' A300, A310, A320 and A330/340 aircraft had ceased with the 2011 order.

"Today's final ruling sends a clear message: disregard for the rules and illegal subsidies is not tolerated". Full details to come. "The commercial success of products and services should be driven by their merits and not by market-distorting actions", said Boeing head Dennis Muilenburg.

The litigation adds to the tension between the US and Europe, two once-cooperative trade partners that are already sparring over Trump's steel and aluminum tariffs and his decision to back out of a nuclear treaty with Iran. The Geneva-based WTO can't force nations or companies to drop payments that violate trade rules, but it can authorize retaliatory measures to pressure governments into complying with its rulings.

Boeing said it anticipated that USA tariffs up to the amount of harm from the subsidies could be scheduled as early as 2019.

Iran seeks 'clear future design' for imperilled nuclear deal
The issue will likely be a focus of discussions between the Iranian and European foreign ministers in Brussels. The JCPOA sets the balance of obligations between Iran, Europe and the United States, he said.

Trump greets Muslims on Ramadan
It is the most holy month in the calendar for Muslims as it is believed the Quran was revealed to Prophet Mohammed during Ramadan. Aside from fasting, the holy month of Ramadan is a month of self-reflection, sharing, caring and giving.

Jon Jones tells Chuck Liddell to 'Come get it'
Ortiz also recently announced he was coming out of retirement , with his last bout being a win over Chael Sonnen at Bellator 170 a year ago .

However, the Geneva watchdog dismissed US claims that loans for Airbus's most popular models, the A320 and A330, were costing Boeing significant sales and in so doing narrowed the scope of one of the world's longest and costliest trade spats. The bloc compounded the issue with below-market loans for the planemaker's marquee A350 jetliner.

The WTO report specifically says that the Airbus subsidies hurt Boeing through lost sales of large widebody jets to several major global airlines and in markets such as the European Union, Australia, China and the United Arab Emirates.

The shares of Airbus had fallen shortly after the WTO issued its findings and were poised to close down around 0.86 percent. Boeing fell less than 1 percent to $342.09 at 12:37 p.m.in NY, recovering from losses logged before the decision was issued.

For its part, Airbus emphasized that the "WTO has now dismissed in their entirety 94% of Boeing's original claims" and focused on the "much more interesting part - on Boeing's more egregious and competition-damaging subsidies", which the WTO has not yet finished ruling on. This is proof of Boeing's cynical PR motives in bringing this case about in the first place.



Other News

Trending Now

Video of son peeing during MI proposal goes viral
Pryztula's 11-year-old daughter Kayleigh, the designated videographer, doubles over in a fit a giggles. Kevin Przytula said he brought his girlfriend, Allyssa, to Bay City over the weekend to propose .

Co-pilot 'sucked halfway out' plane when windshield blows out at 32000 feet
Passenger Zhao Shihai was sleeping on the flight when the windshield dropped out, but was awakened by the violent turbulence. Every airline develops its own Standard Operating Procedures (SOPs) which its pilots will follow in a given situation.

Scottish Parliament rejects UK's Brexit bill
As such, the Scottish Government insists all these powers should come to it, hence the claim from SNP ministers that the EU Withdrawal Bill is a "power grab".

Senior class prank goes viral
They also put black on the brick wall to make it look like the vehicle drove into the building, creating a big hole. The students also posed with their work, holding a sign with a message about the dangers of underage drinking.