Airbus acts to finally settle trade dispute with the US
Europe-based global major aerospace group Airbus reported on Friday that it had taken the final step in ending a long-running trade dispute at the World Trade Organisation (WTO) between the European Union and the US. The dispute had been running for 16 years.
The issue was repayable launch investment (RLI) contracts awarded by some European countries for the Airbus A350 XWB airliner programme. The conditions of these contracts caused the US Trade Representative (USTR) to impose tariffs on a range of European exports to the US.
These tariffs, Airbus stated, had been harming all the targetted sectors, including American airlines. The situation had been further worsened by the Covid-19 pandemic.
As a result, Airbus and the governments of France and Spain had agreed to amend the RLI contracts these countries had awarded to the company for the A350 XWB. The amendments would bring these contracts into compliance with WTO approved interest rate and risk assessment benchmarks. (The principle of RLI had been previously approved by the WTO.)
“We have fully complied with all the WTO requirements,” affirmed Airbus CEO Guillaume Faury. “These additional amendments to the A350 RLIs demonstrate that Airbus has left no stone unturned to find a way towards a solution.”
The group also stated that this move ended all justification for American tariffs. “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,” he stated.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation