US, EU End Airbus- Boeing Trade Dispute
By Stefan J. Bos, Chief International Correspondent Worthy News
(Worthy News) – The United States and the European Union have resolved their near 17-year conflict over aircraft subsidies, Worthy News learned Tuesday.
The two sides have been battling since 2004 in parallel cases at the World Trade Organization over subsidies for U.S. planemaker Boeing and European rival Airbus.
The deal also brings to a close one set of former President Donald J. Trump-era tariffs which had overshadowed relations U.S.-EU relations.
U.S. Trade Representative Katherine Tai said the two sides have come to terms on a five-year agreement to suspend the tariffs at the center of the multi-bullion dollar dispute. “Instead of fighting with one of our closest allies, we are finally coming together against a common threat.”
The row saw tit-for-tat duties slapped on a range of firms that have nothing to do with aircraft production. It ranged from French winemakers to German cookie bakers in Europe and U.S. spirits producers in the United States, among many others.
The deal came as U.S. President Joe Biden made clear he also wanted to end tariffs imposed under the previous Trump administration.
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