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US Claims Win in Dispute With EU Over Aerospace Subsidies
Source: Associated Press
US Claims Win in Dispute With EU Over Aerospace Subsidies
By THE ASSOCIATED PRESS WASHINGTON — Sep 22, 2016, 10:31 AM ET
The Obama administration says it has won an important victory in a World Trade Organization dispute with the European Union over subsidies to airplane manufacturer Airbus.
The WTO found in June 2011 that the EU provided billions of dollars in subsidized financing to Airbus. The EU subsequently claimed to have come into compliance, but the United States disagreed and requested that a compliance panel intervene.
The Obama administration says the panel has confirmed the U.S. was correct. Plus, it says the panel found that the EU had provided billions of dollars more in subsidies, causing lost exports worth tens of billions of dollars for Boeing Co.
United States Trade Representative Michael Froman says the panel's finding is "a sweeping victory for the United States and its aerospace workers."
By THE ASSOCIATED PRESS WASHINGTON — Sep 22, 2016, 10:31 AM ET
The Obama administration says it has won an important victory in a World Trade Organization dispute with the European Union over subsidies to airplane manufacturer Airbus.
The WTO found in June 2011 that the EU provided billions of dollars in subsidized financing to Airbus. The EU subsequently claimed to have come into compliance, but the United States disagreed and requested that a compliance panel intervene.
The Obama administration says the panel has confirmed the U.S. was correct. Plus, it says the panel found that the EU had provided billions of dollars more in subsidies, causing lost exports worth tens of billions of dollars for Boeing Co.
United States Trade Representative Michael Froman says the panel's finding is "a sweeping victory for the United States and its aerospace workers."
http://abcnews.go.com/Politics/wireStory/us-claims-win-dispute-eu-aerospace-subsidies-42278692
