WTO Approves Anti-Boeing Tariff in Response to U.S. Subsidies
The World Trade Organization (WTO) has given the European Union the green light to impose tariffs on $4 billion worth of U.S. goods, part of the 15-year-old dispute between the U.S. and Europe over subsidies provided to Boeing (NYSE: BA) and Airbus (OTC: EADSY).
Airbus, backed by European lawmakers, has long argued that subsidies provided to Boeing by U.S. federal and state sources violate WTO rules. The WTO has largely agreed, determining in a ruling on Tuesday that subsidies to Boeing have cost Airbus $4 billion in lost sales and market share annually.
The U.S. has already imposed tariffs on certain EU imports as part of the squabble.
Source Fool.com
