The trade dispute will not end there
The dispute has been long and bitter. In October 2004 America complained to the trade body about loans offered byfiled a complaint about the harm to Airbus from subsidies to Boeing, in the form of tax breaks and generous contracts with the Department of Defence. Since then there has been enough legal back-and-forth to bore the most ardent plane-spotter. Theruled against both subsidisers. Each made some adjustments supposed to resolve the other’s complaints—but neither was satisfied.
In a broader sense, it shows how vulnerable those multilateral rules are to timewasters. In a sector like aircraft manufacturing, where subsidies are ubiquitous, it has always been clear that America and theneeded to agree to mutual disarmament. Instead, they have talked past each other, each complaining at various points that the other was unwilling to negotiate. Most recently it has been thethat has submitted proposals to America, only to be rebuffed.
For all the fuss the dispute will generate among connoisseurs of European cheese, the biggest impact will be on aircraft, of which America imported $5.1bn-worth in 2018, mostly from France and Germany . It could have been worse—the Americans could have applied a tariff of up to 100%—but even one of 10% will bite. American airlines fear that tariffs will raise the price of Airbus aircraft, and that Boeing will lack the capacity to expand supply.
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