UK, US strike deal over Airbus-Boeing dispute

LONDON: Britain on Thursday said, it had agreed on a truce with the United States over a 17-year long tariffs dispute involving European planemaker Airbus and US rival Boeing.

It comes in the wake of a similar deal between the European Union and the US announced on Tuesday.

The dispute, the longest-running in the history of the World Trade Organization, has seen damaging retaliatory tariffs levied on products on both sides of the Atlantic owing to disagreements over support for large civilian aircraft, the UK government explained in a statement Thursday.

But both the sides have finally agreed “to suspend retaliatory tariffs for five years”, it added.