GENEVA (dpa): Boeing lost an important round in the ongoing trade dispute with Airbus on Monday, when the World Trade Organization largely upheld its ruling that US subsidies for Boeing had hurt its European rival. “The US should now put an end to such harmful subsidies,” European Trade Commissioner Karel De Gucht said. The WTO's appeals body in Geneva confirmed that US subsidies have amounted to at least 5.3 billion dollars. The decision was the latest step in the trade spat that started in 2004. The WTO last year found that subsidies by the European Union and several EU countries to Airbus had contravened trade rules. Boeing issued a qualifying statement. “With respect to the amount, the (WTO) appellate body found that unaddressed subsidies to Boeing total approximately 3 billion dollars – about one-sixth of the 18 billion dollars Europe has given to Airbus,” it said. BM ShortURL: http://goo.gl/5X8AD Tags: Boeing, Subsidies, WTO Section: Business, Latest News
