TV News LIES

Tuesday, Jul 29th

Last update12:22:36 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...


Banks accused of rigging silver price

silver price riggingDeutsche Bank, HSBC and Bank of Nova Scotia have been accused of attempting to rig the...

Bond trader could face nine years in prison in rare criminal prosecution

Blond trader to faced jail timeJesse Litvak was ecstatic.  It was March 31, 2010, and the mortgage bond trader at Jefferies...

85 wealthiest are richer than poorest 3.5 billion

gatesThe U.N.'s annual Human Development Report released Thursday shows that the world's 85 richest people are...

Microsoft to cut 18,000 jobs this year as it trims Nokia

MicrosoftMicrosoft Corp said on Thursday it will slash up to 18,000 jobs, or 14 percent of...
 
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!