[Congressional Record Volume 150, Number 127 (Friday, October 8, 2004)]
[Extensions of Remarks]
[Pages E1840-E1841]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 APPLAUDING THE ADMINISTRATION FOR FIGHTING FOR AMERICAN COMPANIES AND 
                                WORKERS

                                 ______
                                 

                           HON. W. TODD AKIN

                              of missouri

                    in the house of representatives

                       Wedneday, October 6, 2004

  Mr. AKIN. I rise to applaud President Bush and U.S. Trade 
Representative Bob Zoellick

[[Page E1841]]

 for today initiating a World Trade Organization case against market-
disruptive subsidies received by Europe's Airbus Industry.
  This bold move, coupled with withdrawal from the 1992 United States-
European Agreement on Trade in Large Civil Aircraft, demonstrates a 
seriousness of purpose on behalf of the President and the 
Administration to protect the interests of American companies from 
unfair competition.
  Boeing and its suppliers in the aerospace sector employ some of the 
most highly-skilled and best-paid workers in the U.S. Due in large part 
to European subsidization of Airbus, we have seen Boeing's share of the 
worldwide commercial airplane market slide from more than two-thirds to 
less than 50 Percent.
  Why has this occurred? The answer has nothing to do with a lack of 
ingenuity or determination on the part of American firms or their 
capable employees. Instead, Airbus' rise to market leadership has been 
driven largely by the ``launch aid'' provided by European governments.
  Launch aid is upfront government money provided to Airbus to finance 
the development of new airplane models--more than $3.7 billion in the 
case of the new super-jumbo Airbus A380. Over the years, Airbus has 
received more than $15 billion in such subsidies.
  Airbus calls this launch aid a ``loan,'' but the terms are such that 
repayment may not be required if the airplane does not attract 
sufficient orders from airlines. Imagine getting a loan to start a 
business, with the bank agreeing that you need not repay if the 
business fails.
  By contrast, Boeing is putting up several billion dollars of its own 
money to finance its latest airplane, the ultra-fuel-efficient 7E7. 
Boeing, its employees and its shareholders bear the full risk of the 
airplane's ultimate success or failure, unlike the protection afforded 
to Airbus by the government launch aid.
  American workers like those at Boeing and its supplier companies 
aren't asking for a handout, or a leg up. They are asking for a chance 
at fair competition.
  So again, let me thank the President and our distinguished Trade 
Representative, Bob Zoellick, for taking a bold stand in fighting for 
American companies and their workers and for a principle all Americans 
support--a fair playing field for everyone.

                          ____________________