Good morning from the Financial Times. Today is Wednesday, October 14th, and this is your F.T. News briefing.

It's a case that if it were a person would be old enough to drive by now,

but the World Trade Organization has finally issued a rule of law. person would be old enough to drive by now.

But the World Trade Organization has finally issued a ruling on the state aid dispute involving

Airbus and Boeing.

And the IMF warns that the pandemic will cause lasting damage to living standards.

Plus, who would bet against home computing when so many people are still working from home?

We'll fill you in.

I'm Mark Filipino, and here's the news you need to start your day.

After the news you need to start your day.

After years of waiting, more than a decade, the World Trade Organization finally announced a decision on a long-standing spat between the US and the EU.

And now, with the decision, the European Union can hit the United States with almost four billion dollars worth of tariffs.

Here with me now is Amy Williams, she covers trade in Washington.

Amy, it's been at 16 years since this whole thing started.

Can you remind me, where did this all stem from?

So this is essentially an argument between the U.S. company Boeing

and the European Airbus.

Back in about 2004, Airbus overtook Boeing in terms of deliveries for the first time,

so it became more successful than Boeing. Around this time, the first time.

the US launched a case against subsidies arguing that Airbus was getting illegal funding to

around the tune of $22 billion. So that kind of started off

this fight. The EU, however, retaliated pretty much immediately. I mean it was a few months later and they argued that actually

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