US, EU agree to suspend tariffs in Boeing-Airbus dispute

The European Union and the US agreed to suspend tariffs on billions of dollars of each other’s products, easing a 17-year transatlantic dispute over illegal aid to the world’s biggest aircraft makers.

President Joe Biden and European Commission President Ursula von der Leyen agreed to the move on a call Friday, the commission said in a statement.

“This suspension will help restore confidence and trust, and therefore give us the space to come to a comprehensive and long-lasting negotiated solution,” European Commission Executive Vice-President and Trade Commissioner Valdis Dombrovskis said in a separate statement. “A positive EU-U.S. trade relationship is important not only to the two sides but to global trade at large.”