The United States and Europe are expected to announce a five-year suspension of tariffs in their 17-year-old dispute over aircraft subsidies
, while granting relief to dozens of other industries affected by tit-for-tat tariffs that were suspended in March. They face a renewed trade war within weeks if there is no progress.
But reaching a detailed accord has proven complex, given nearly two decades of legal wrangling and thousands of pages of documents, said one source briefed on the talks. The dispute has dragged on since 2004 when the United States withdrew from a 1992 aircraft subsidy pact and took the EU to the WTO, claiming Airbus had managed to equal Boeing's share of the jet market thanks in part to subsidized government loans.In recent months, top European, British and U.S. officials have engaged in intense discussions to settle the dispute and focus on other challenges, including China.
"There's no question that the rise of China's aircraft industry is ... on everybody's proverbial radar," U.S. Chamber of Commerce Senior Vice-President Marjorie Chorlins told reporters on Monday, noting what she described as China's "heavy subsidization" of its industries.
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