 "US, EU reach deal to end 17-year Airbus-Boeing trade dispute")
The US and the European Union agreed to extend a tariff truce for five years, parking a dispute over aircraft subsidies given to Airbus SE and Boeing that saw the allies impose duties on $11.5 billion of each other’s exports.
US Trade Representative Katherine Tai, speaking to reporters in Brussels on Tuesday, said the tariffs would remain suspended as long as the terms of the agreement are upheld and while they work on addressing issues including outstanding subsidies already paid. “I'm very positive and convinced that together we will deliver today,” European Commission President Ursula von der Leyen told reporters Tuesday, hours before a meeting in Brussels with US President Joe Biden.
“Today’s announcement resolves a long standing trade irritant in the US-EU relationship,” Tai said.
“We have also with the EU agreed to clear statements on acceptable support for large civil aircraft producers and a cooperative process to address that support between our two parties.” The European Commission spent Monday night discussing the accord with member states to get the deal over the line before an EU-US summit in Brussels with President Joe Biden, according to EU officials familiar with the deliberations. The allies will also vow to end a separate dispute over steel and aluminum, in a sign of progress in resetting the relationship.