U.S. Threw Boeing ‘Under The Airbus’ In Effort To Thwart China | WHAT REALLY HAPPENED

U.S. Threw Boeing ‘Under The Airbus’ In Effort To Thwart China

President Biden has essentially thrown Boeing BA “under the Airbus,” at least for the time being, as part of a high-stakes, longer-term strategy to reinvigorate Western-led globalization on Democratic Party terms.

The United States USM and the European Union announced earlier this week during Biden’s first foreign trip that the world’s two largest airline manufacturers would set aside for five years tariffs associated with the world’s most expensive and long-standing World Trade Organization dispute — a dispute begun by Boeing in 2004, three years after the WTO’s creation.

The reason? To confront China and its ambitions in the aviation industry.

It was a win for Airbus because, at least for five years and almost certainly longer, it sets aside a WTO ruling allowing Boeing to impose tariffs in retaliation for improper European Union support of Airbus.

It’s back to square one, essentially. Despite assurances from both sides that they would play fair going forward, details of the agreement are, at best, squishy.

It’s a deal that clearly hurts Boeing, the country’s largest exporter and the one behind the majority of $1.2 trillion in jet, jet engine and body part exports in the last decade.