Wed, Apr 20, 2005
Deal Would Avoid World's Biggest Trade Lawsuit
Even with threats and Congressional
resolutions a-flying, tempers flaring and lawyers warming up in the
bullpen, there are still faint rays of optimism peeking through the
dispute between the US and the European Union over subsidies paid
to Airbus and Boeing.
They're faint rays of hope, to be sure. But European Commission
President Jose Manuel Barroso said Wednesday, he's still
optimistic. "I believe it is possible to reach an amicable
agreement... in the Boeing-Airbus affair.'' Barroso was quoted by
Reuters.
As ANN has extensively reported over the past year, the subsidy
battle was touched off by former Boeing CEO Harry Stonecipher, who
complained to the Bush Administration that the subsidies paid to
Airbus by European governments was unfair. As a result, the US
unilaterally pulled out of a 1992 agreement with the EU covering
such payments and threatened to take the whole matter to court
before the World Trade Organization. It would be the biggest
trade-related lawsuit the world has ever seen.
But the US didn't pull the trigger on its lawyers. Instead, trade representatives agreed to try to
talk it out. They did -- talking right past an April 11th
deadline. Shortly after that, however, France accepted Airbus's application for
approximately $1.6 billion in launch aid for the A350, an aircraft
that would compete directly with Boeing's new 787.
So last week, US negotiator Robert Zoellick fired off a letter
to his EU counterpart, Peter Mandelson, indicating his patience is
fast running out. Congress has passed a resolution urging Zoellick
and his colleagues to pull the trigger on a WTO lawsuit. But
Barroso said Wednesday EU Trade Minister Mandelson is looking
forward to "constructive, friendly relations with his counterpart
in the United States and that he believed it possible the EU and US
can still reach an "amicable agreement" in the Airbus-Boeing
battle.
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