In a final decision Monday, the World Trade Organisation ordered the United States to end subsidies and tax breaks for aviation giant Boeing, ruling that such policies resulted in "significant lost sales" for rival European plane manufacturer Airbus.
The World Trade Organisation granted its final approval for Russia to join the group on Friday after a record 18-year-long bid for membership. The Russian parliament must now ratify the accord before June 15 of next year.
French Prime Minister François Fillon pledged his country’s support for Russia's bid to join the World Trade Organisation by the end of the year during a visit on Tuesday by his Russian counterpart, Vladimir Putin.
The World Trade Organisation on Wednesday partly reversed a ruling against the European Union over “prohibited subsidies” for aircraft maker Airbus. Both Boeing and its European rival claimed the decision as a victory.
A WTO report Monday stated that Boeing violated international rules by receiving subsidies from the US government. The report is the latest stage in the ongoing and acrimonious dispute between Airbus and Boeing for the $1.7 trillion market.
China angrily slammed a new US bill Thursday that targets the Yuan due to the Washington’s belief that authorities in China are artificially undervaluing their currency to promote exports. Beijing warned that the US action could hurt trade ties.
Leaders from France and European aircraft maker Airbus claimed victory Wednesday after the World Trade Organization judged US subsidies to Boeing to be illegal.
A delay in the delivery of a final WTO judgment on 'illegal' US subsidies to aerospace giant Boeing has angered rival company Airbus, who have themselves recently been found guilty of illegally receiving funding from EU governments.
