7/24/2020, 8:22 AM (Source: TeleTrader)
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Airbus 'takes final step' to end WTO dispute

Airbus SE said on Friday it "took the final step" to resolve the decade-long World Trade Organization dispute between the United States and the European Union over subsidies.

The manufacturer stated that it revised contracts with the French and Spanish governments to include what the WTO considers "appropriate" interest rates on the loans given to it to develop its A350 jet.

"We have fully complied with all the WTO requirements," Airbus CEO Guillaume Faury asserted, adding that "this is a clear signal of support to those who are suffering from the severe impact of the tariffs imposed by the USTR, especially at a time when industries are hard hit by the consequences of the COVID-19 crisis."

Breaking the News / MD