EU and US to end Airbus/Boeing trade dispute
The EU and the US have announced today that an understanding has been reached in order to put an end to their 16-year trade dispute, the longest in the history of the World Trade Organization (WTO), over illegal subsidies granted to both Airbus and Boeing, European and American aircraft makers, respectively.
Following a long litigation procedure, the WTO Dispute Settlement Body authorised both parties to impose countermeasures on each other over the illegal subsidies each of them granted to their respective aircraft maker. These punitive tariffs affected 11.5 billion dollars worth of trade value between the two sides, and meant EU and US businesses have had to pay over 3.3 billion dollars in duties.
During today’s EU-US Sum