Oct. 14 (UPI) -- The United States can impose tariffs on up to $7.5 billion worth of European imports in response to the illegal subsidies received by Airbus, the World Trade Organization ruled Monday.
The ruling was a formality after the WTO arbitration panel confirmed that Airbus had received subsidies from Britain, France, Germany and Spain on Oct. 2. The 156-page decision against Airbus and the EU mentions Boeing 850 times.
Earlier this month, Boeing released a statement saying that Airbus needs to come into compliance.
"Yet even today, Airbus could still completely avoid these tariffs by coming into full compliance with its obligations," Boeing said. "We hope it will finally do that."
Airbus responded with its own statement warning that tariffs on aircraft or aircraft components could create "insecurity and disruption" to the aerospace industry and the broader economy.
"Airbus is therefore hopeful that the U.S. and the EU will agree to find a negotiated solution before creating serious damage to the aviation industry as well as to trade relations and the global economy," Airbus CEO Guillaume Faury said.