Yahoo Finance Boeing Gains As US-EU Dispute Over Aircraft Subsidies Ends
By Dhirendra Tripathi
Investing.com -- Boeing (NYSE:BA) shares were among the gainers in Tuesday’s premarket trading as the U.S. and the E.U. decided to end their 17-year dispute over aircraft subsidies to the plane manufacturer and its rival Airbus (PA:AIR).
Airbus shares were up 1% in Paris.
The subsidies made it difficult for both to land contracts from airlines based in each other’s territories.
The deal, while bringing peace between the two sides, will also help them focus on their emerging rival, China’s state-sponsored Commercial Aircraft Corp. of China or Comac.
In 2019, the World Trade Organization authorized the U.S. to level tariffs against $7.5 billion of EU exports annually over government support for Airbus, while the EU won permission to hit back with levies on $4 billion of U.S. goods.
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