United States and the European Union reach deal to end their long-running dispute over subsidies to Boeing and Airbus
The US imposed what could have amounted to $7.5 billion in tariffs on European exports in 2019 after the World Trade Organization ruled that the EU had not complied with its rulings on subsidies for Airbus, which is based in France.
In March, weeks after Biden had taken office, the two sides agreed to suspend the tariffs. That suspension started on March 11 for four months.French President Emmanuel Macron hailed the truce as proof of a "new relationship" between the two powers. With the agreement reached on the Airbus-Boeing dispute, American tariffs on French products, including wine, have been lifted. These are the first results of our new relationship with our American partners. This is effective cooperation. This is good news for our wine producers!US President Joe Biden also welcomed the "major breakthrough" in the Boeing-Airbus trade dispute and an agreement with the European Union to counter China's "non-market practices.
"Both the US and EU agreed to suspend our tariffs for five years, and we committed to ensuring a level playing field for our companies and our workers," Biden said in a statement.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. and EU resolve 17-year Boeing-Airbus dispute, EU's von der Leyen saysThe United States and the European Union have resolved a 17-year-long dispute over aircraft subsidies, the European Commission president said Tuesday.
Read more »
U.S., EU Agree To End 17-Year Boeing-Airbus Trade DisputeThe agreement was announced Tuesday with Biden in Brussels for a U.S.-E.U. summit.
Read more »
U.S. and EU Near Deal on Boeing-Airbus Trade FightThe move to end the longest and most costly spat in the history of the WTO would significantly reduce trade tensions between the two giant and deeply interlinked economies.
Read more »
U.S. and EU Agree to Suspend Airbus-Boeing Trade FightThe move to end the longest and most costly spat in the history of the WTO will significantly reduce trade tensions between the two economies.
Read more »
After 17 years, truce nears in U.S.-Europe jet subsidy warThe United States and Europe are expected to announce a five-year suspension of tariffs in their 17-year-old dispute over aircraft subsidies on Tuesday, allowing them to focus on the threat posed by China's nascent commercial aircraft industry, people familiar with the matter said.
Read more »