ARLINGTON, Va., June 30 /PRNewswire-USNewswire/ -- The Aerospace Industries Association (AIA) welcomes the final ruling of the World Trade Organization (WTO) 316 Panel, which affirmed U.S. claims that subsidies provided to Airbus, particularly in the form of launch aid, have harmed U.S. industry, that EU governments must withdraw those subsidies and provide redress to the U.S., and that this practice of systematic subsidization must be abandoned going forward.
This ruling is a vital development for the future of our commercial aviation industry. It underscores the power and importance of a rules-based trading system, which has proven time and again to spawn innovation, accelerate development, and ensure the maximum value creation to the benefit of all stakeholders participating directly or indirectly in this great industry.
The ruling also sends a clear message to those WTO member countries developing, or considering developing, civil aviation production that free and fair trade principles matter, and will be enforced, for the health, stability, and growth of our industry.
AIA is a longtime proponent of free and fair trade across the aerospace spectrum. The WTO's actions contained in today's landmark report reaffirm AIA's confidence in free and fair trade and the WTO dispute settlement mechanism.
Founded in 1919, the Aerospace Industries Association represents the nation's leading manufacturers and suppliers of civil, military, and business aircraft, helicopters, unmanned aircraft systems, space systems, aircraft engines, materiel, and related components, equipment services, and information technology.
SOURCE Aerospace Industries Association