Washington state on Thursday moved to formally repeal an aerospace tax break tha...
WASHINGTON/SEATTLE - Washington state on Thursday moved to formally repeal an aerospace tax break that benefited U.S. planemaker Boeing and avert looming European Union tariffs on U.S. goods.
The Geneva-based WTO has found that Boeing and Airbus, the world’s two largest planemakers, received billions of dollars of unfair subsidies in cases dating back to 2004. It has faulted both sides for failing to comply fully with previous rulings, opening the door to a tariff war. The move came ahead of an expected decision this spring from the WTO that would allow the EU to impose tariffs on an as yet undetermined amount of U.S. imports. Makers of products ranging from luxury goods to whisky have raised concerns about a tit-for-tat tariff war spreading beyond the aerospace industry.
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