TV News LIES

Monday, Jun 27th

Last update05:20:13 AM GMT

You are here News Economy WTO: US subsidies to Boeing illegal

WTO: US subsidies to Boeing illegal

E-mail Print PDF
US subsidies to Boeing illegal

US aircraft manufacturer Boeing received at least $5.3bn (£3.3bn) in unfair aid from Washington, the World Trade Organization (WTO) has concluded.

The subsidies included money for research and development from the Nasa space agency, a panel of international trade judges has ruled. Last year the WTO said that Boeing's arch rival Airbus had received illegal aid from European governments.

The two companies have been at war over state aid for almost six years.

The case is one of the most complex ever brought before Geneva-based WTO, which has issued 2,000 pages of rulings. Both companies claimed that the WTO's latest ruling bolstered their case.

"It's time for Boeing to stop denying or minimising the massive illegal subsidies it gets," said Rainer Ohler, head of public affairs at Airbus.

But Boeing said that the WTO's ruling on the size of its aid, $5.3bn, was dwarfed by the $20bn that Airbus had received.

"This WTO ruling shatters the convenient myth that European governments must illegally subsidise Airbus to counter US government assistance to Boeing," said Michael Luttig, general counsel at Boeing.

More...


Most Recent Related Stories...


A third of cash is owned by 5 U.S. companies

Cash owned by five corporationsThe rising cash holdings of U.S. corporations is increasingly in the hands of a few U.S....

America's top CEOs pocket 355 times more than average workers

Mario GabelliThe US’s top 500 chief executive officers earned 355 times the average worker’s wage last year,...

Poll: Two-thirds of U.S. would struggle to cover $1,000 crisis

One thousand dollars emergency out of reach for two thirds of AmericansTwo-thirds of Americans would have difficulty coming up with the money to cover a $1,000 emergency,...

U.S. banks help their best customers find their way to offshore accounts

offshore accountsIn the spring of 2015, Miami-based Citigroup banker Victor Olivo emailed the law firm at the...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!