US and EU missed deadline leaving dispute open

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Tuesday April 12, 07:47

US and EU missed deadline leaving dispute open

(by Brigitta Zulfitzler)

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US and EU missed deadline leaving dispute open

The US and EU yesterday missed the deadline to eliminate government subsidies for the world’s largest manufacturers, Airbus and Boeing.

The move left uncertain future possible settlement of the issue which involves huge loans and tax breaks for the two airplane rivals.

Both parties seem eager to avoid legal proceedings at the World Trade Organization though both have certain requisitions.

"I regret that it has not been possible to reach an interim agreement by 11 April. But, given the complexity of the issues, this is perhaps not surprising," said Peter Mandelson, EU trade commissioner.

The U.S. Senate passed a nonbinding resolution urging European members’ governments to stop providing loans to Airbus.
In its turn, the EU declared its intention not to sacrifice Airbus launch-aid unless US provides a balanced reduction in Boeing’s support including federal contracts for different programs.

Boeing lost the reputation of the world’s largest manufacturer of big commercial jets in 2003 being left behind by Airbus. Meanwhile, the two world’s biggest aircraft producers fight in severe competition promoting their newest products: Airbus’s A350 and Boeing’s regional jet 787.

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