techkenyot.com
techkenyot.com May 26, 2018


WTO Rules $22Bln EU Subsidies to Airbus Illegal, Authorizes US Retaliation

16 May 2018, 05:27 | Hattie Nash

WTO Rules $22Bln EU Subsidies to Airbus Illegal, Authorizes US Retaliation

DEVELOPING NEWS: WTO rules EU failed to stop subsidies on some Airbus aircraft

The World Trade Organization ruled on Tuesday the European Union had ignored requests to halt all subsidies to plane maker Airbus, prompting the United States to threaten sanctions against European products unless the EU stops "harming USA interests".

Today's decision ends the dispute and clears the way for the United States Trade Representative (USTR) to seek remedies in the form of tariffs against European imports to the U.S.

In 2004, the United States lodged its original complaint with the WTO, claiming support of Airbus by France, Germany, Spain and the United Kingdom for the development of civilian airliners was unfair because it hurt USA -based Boeing's sales and market share.

The WTO's findings mark a stepping up of trade tensions between the USA and European Union, which are already wrangling over whether U.S. tariffs on aluminium and steel will apply to European products.

This Bright Supermassive Black Hole Eats a Sun Every Two Days
Dubbed J215728.21-360215.1, the supermassive black hole was recently noticed by the before-mentioned Dr. For those trying to unlock the secrets of the universe, the bigger a black hole is, the better.

The final decision affirmed a 2016 finding that the European Union had failed to eliminate unfair subsidies for two Airbus twin-aisle models, ending a long-running trade case.

The WTO appellate body upheld the compliance panel's finding in 2016 that Airbus paid a lower interest rate on financing for the development of its latest aircraft, the A350, than it would have obtained on the commercial market, and that this below-cost financing provided by the French, German, Spanish and United Kingdom governments provided a benefit to Airbus that constituted subsidies. The bloc compounded the issue with below-market loans for the plane-maker's marquee A350 jetliner.

The Geneva watchdog, however, had dismissed US claims that the loans for the most popular models of Airbus, the A320 and A330, were costing aignisignif sales to Boeing.

Airbus chief executive Tom Enders called the ruling a "significant legal success for the European aviation industry".

Malaysian Muslims to begin fasting Thursday
The committee is set to meet after prayers on the evening of Tuesday, May 15, at the Abu Dhabi Judicial Department, WAM said. Previous year more accidents happened in the late morning rush hour between 10am and 11am than any other time.

The size of US tariffs to be allowed will be determined through a WTO arbitration process, and will be based on the annual harm to USA and Boeing - losses that the US had previously pegged as ranging from $7 billion to $10 billion a year. The stock fell 0.9 percent to 96.25 euros at the close in Paris.

"The Airbus case against Boeing is yet to come". Boeing fell less than 1 percent to $342.09 at 12:37 p.m.in NY, recovering from losses logged before the decision was issued.

"The result is simple: Airbus pays back its loans, Boeing pays back nothing and continues to exploit the generosity of the USA taxpayer", he said.

The US accused the European Union and the four countries of providing grants, preferential loans and other illegal aid to Airbus to help it to build its entire fleet of civilian aircraft, to the...

WhatsApp Gets New Group Features, Including Descriptions, Mentions, and Admin Controls
Admin controls: WhatsApp has been rumoured to be working on admin controls for improving Groups experience for a long time. WhatsApp has taken notice and has introduced a number of new features to help admins and users to keep the group on track.



Other News

Trending Now

Melania Trump undergoes kidney surgery at Walter Reed medical center
Weeks after Betty Ford became first lady, she was diagnosed with breast cancer and underwent a mastectomy in September 1974. Trump has acknowledged reimbursing his lawyer for the payment to Stormy Daniels but denies her allegations.

Laurel or Yanny? This audio clip is driving the internet insane
Laurel " and celebs are debating what they hear in this clip that is spreading like insane ! Instead of an optical illusion, 2018's version of " the dress " is auditory.

Italy, Mancini: 'Proud to be Italy CT'
Roberto Mancini has opened the door to Mario Balotelli making an global return as he prepares to take charge of Italy . Mancini arrived in Rome on Monday morning after leaving Russian club Zenit Saint Petersburg at the weekend.

Margot Kidder, actress best known as Superman's Lois Lane - obituary
Once each to author Thomas McGuane, actor John Heard (for a grand total of 6 days), and French director Phillipe de Broca. Kidder was born in Yellowknife, Canada , and graduated from a Toronto boarding school before pursuing acting.

Holyrood to reject Westminster's Brexit power grab motion
Tomkins insisted the UK Government had moved to "accommodate fair concerns raised by all parties in Scotland ". The Scottish Conservatives voted against, and have blamed the SNP for the failure to find an agreement.

Kia Motors Will Debut 48V Diesel Hybrid Powertrain This Year
Kia has announced plans to introduce new mild hybrid technology to its line-up, similar to the drivetrains now utilised by Audi. The battery recovers energy from the diesel engine's crankshaft when the vehicle is decelerating or driving downhill.

Conte reveals key man in contention to return vs Newcastle
The Chelsea boss holding his hands up: 'From the start, Newcastle outplayed us in every way...they deserved to win'. Chelsea are unbeaten in six Premier League games (W4, D2).

Eurovision victor Netta Barzilai lands in Israel
Jerusalem Mayor Nir Barkat vowed his city would "grant any help needed in putting up Eurovision 2019 in the capital of Israel". In a gracious gesture , Mauboy paid tribute to the competition's victor - Israel's Netta Barzilai .

Deadpool 2 review: still the ideal antidote to superhero fatigue
While some of these barbs may raise a smirk, for the most part they feel forced and already a little dated. Despite Deadpool's jokes on it, it is a pity that the studios couldn't make the movie on a larger scale.

Facebook Removed 2.5 MILLION Pieces of 'Hate Speech' in Just Three Months
It also means content in private groups, which will never be reported by members of the group, can be flagged and dealt with. However, it declined to say how many minors - legal users who are between the ages of 13 and 17 - saw the offending content.