Norman D. Dicks: “this morning the United States filed a World Trade Organization dispute settlement case against the European Union…”

“this morning the United States filed a World Trade Organization dispute settlement case against the European Union regarding billions of dollars in unfair subsidies provided to Airbus by European governments. The U.S. has also exercised its rights to immediately terminate the 1992 U.S.-EU agreement on large civil aircraft. That agreement placed limits on certain government support, including limiting it to one-third of the costs of developing a new character aircraft. The time has come for the American Government to recognize the damage that has occurred to our economy and to take firm action to curtail what I believe is both unfair and illegal foreign competition. These subsidies from four European governments, which include aircraft launch assistance, capital injections, debt forgiveness, have enabled Airbus to develop and range market airliners well below cost. Unless this practice is checked, I am afraid it will threaten to drive the Boeing Company, Airbus' only remaining worldwide competitor and our largest net exporter, out of the commercial airline manufacturing business altogether. Over the last few years Airbus has grown to dominate the large commercial aircraft industry, out-delivering Boeing for the first time in history in 2003. I want to support Ambassador Zellig's action. He has courageously filed this case on behalf of our government.”