Airbus: WTO Rules US Should Reduce Tariffs by About $2 Billion -- Update
December 02 2019 - 11:16AM
Dow Jones News
By Giulia Petroni
Airbus SE (AIR.FR) said Monday that the World Trade Organization
ruled the U.S. should immediately reduce the $7.5 billion tariffs
authorized in October by around $2 billion.
The France-based plane maker said the WTO found "the loans for
the development of the A380 no longer have an impact on Boeing
sales and that therefore the value of the lost sales no longer
exists."
However, the WTO found that the European Union "maintained
illegal subsidies" for Airbus, rejecting for a second time the
bloc's claim that it has complied with the trade body's 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."
"Based on these findings, Airbus would support to appeal this
report, as per WTO rules," the company said.
The company said it "continues to encourage" the U.S. to reach a
negotiated settlement.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
December 02, 2019 12:01 ET (17:01 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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