US Trade Representative Robert Zoellick and EU Trade Commissioner Pascal Lamy met in Washington yesterday to discuss some key issues affecting transatlantic trade.
At the top of the agenda is the US threat to involve the WTO in a dispute over subsidies given to aircraft maker Airbus. According to its American competitor Boeing, the European firm has received some $15 billion in ‘launch aid’ since 1967.
However, the EU counters that Boeing is still receiving billions in tax breaks and subsidies from the US government, claiming the firm has benefited from $18 billion in government support since 1992.
Nevertheless, following a meeting with Senate Finance Committee Chairman Charles Grassley yesterday, Lamy was optimistic a negotiated solution can be reached.
"It should be possible because I think we share the same view that these two companies have to compete on a level field," he commented.
Lamy was also keen to see progress on the US effort to repeal FSC-ETI subsidies which have resulted in the EU’s retaliatory tariffs on US goods.
"I want to make sure that things are cooking in the right direction and at the right speed," Lamy remarked.
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