EC Rejects Airbus Argument: The European Community...

EC Rejects Airbus Argument: The European Community rejected a U.S. argument that Germany is giving aircraft maker Airbus Industrie an export subsidy in violation of world trade rules. An EC official spelled out the community’s long-held view that a program to protect the German member of the four-country consortium at least partially against exchange-rate fluctuations did not violate the General Agreement on Tariffs and Trade. The United States complained in a letter to GATT on Friday that the German scheme amounts to a $2.5-million subsidy on each Airbus airliner delivered in 1990.