Subsidies punish Boeing, Airbus

BRUSSELS: While the United States and Europe waged a 17-year trade battle over subsidies to Boeing and Airbus, China poured money into its own commercial aircraft to take on the Western aviation duopoly.

It took a common threat for the United States and Europe to finally put an end to their dispute this past week, as the two sides signed a five-year truce suspending tit-for-tat tariffs.