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November 29, 2016

Trade body says Boeing tax breaks were illegal

  • The WTO found that the support Washington state promised to give Boeing from 2024 to 2040 amounted to “prohibited” subsidies.
    • By RAF CASERT and JAMEY KEATEN
    Associated Press

    GENEVA — U.S. plane maker Boeing received major illegal tax breaks from Washington state, a world trade body ruled Monday, adding that the federal government should now take action to end that support within months.

    The Chicago-based company and the European Union, which backs Boeing's key European rival Airbus, both claimed the ruling by the World Trade Organization as a victory in a longstanding battle for contracts between the two aerospace giants.


     
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