Airbus backing down in longtime fair trade dispute with U.S.
European plane maker Airbus says it is taking the last step to end 16 years of litigation with the United States at the World Trade Organization over subsidies.
The manufacturer said it will end a system of financial support from France and Spain that the WTO had deemed illegal and unfair to rival Boeing. The Trump administration used the case as justification to slap tariffs on $7.5 billion worth of European exports.
The U.S. tariffs covered not only Airbus planes but also a range of typical European exports, from gouda cheese to single-malt whiskey.
The Airbus case centers on so-called launch aid from European countries that WTO judges ruled had impeded sales for aircraft from Boeing in the twin-aisle and very large aircraft markets.