Airbus: End of Washington state tax break of Boeing just 'initial step'
Source: Reuters
BUSINESS NEWS MARCH 12, 2020 / 4:10 PM / UPDATED 4 MINUTES AGO
WASHINGTON (Reuters) - Europe’s Airbus (AIR.PA) on Thursday welcomed a move by Washington state to remove what it called “illegal subsidies” to Boeing (BA.N), but said the U.S. planemaker had received billions of dollars in other subsidies and tax breaks.
The Washington state Senate voted on Thursday to remove an aerospace tax break for Boeing that had been contested by the European Union, sending the measure to Washington state Governor Jay Inslee for a potential signature.
Boeing said the move would bring the United States into compliance with World Trade Organization rules, but Airbus said it marked only “initial steps” and it remained to be seen how other aid provided to Boeing by the state of Kansas and some U.S. federal agencies would be addressed
Reporting by Andrea Shalal; Editing by Sandra Maler
Read more: https://www.reuters.com/article/us-europe-usa-aircraft-airbus/airbus-end-of-washington-state-tax-break-of-boeing-just-initial-step-idUSKBN20Z3FK?il=0
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Washington state repeals pro-Boeing tax break; U.S. hopes to avoid EU tariffs
BUSINESS NEWS MARCH 12, 2020 / 2:39 PM / UPDATED 36 MINUTES AGO
WASHINGTON/SEATTLE (Reuters) - Washington state on Thursday moved to formally repeal an aerospace tax break that benefited U.S. planemaker Boeing (BA.N) and avert looming European Union tariffs on U.S. goods.
Boeing said the move would bring the United States into compliance with World Trade Organization (WTO) rules, but Europe’s Airbus said it marked only “initial steps” toward resolving a longstanding transatlantic dispute over aircraft subsidies.
The Geneva-based WTO has found that Boeing and Airbus (AIR.PA), the world’s two largest planemakers, received billions of dollars of unfair subsidies in cases dating back to 2004. It has faulted both sides for failing to comply fully with previous rulings, opening the door to a tariff war.
https://www.reuters.com/article/us-europe-usa-aircraft-boeing/washington-state-repeals-pro-boeing-tax-break-u-s-hopes-to-avoid-eu-tariffs-idUSKBN20Z39A?il=0