US, EU reach deal to end 17-year Airbus-Boeing trade dispute
The US and the European Union agreed to extend a tariff truce for five years, parking a dispute over aircraft subsidies given to Airbus SE and Boeing that saw the allies impose duties on $11.5 billion of each other’s exports.
US Trade Representative Katherine Tai, speaking to reporters in Brussels on Tuesday, said the tariffs would remain suspended as long as the terms of the agreement are upheld and while they work on addressing issues including outstanding subsidies already paid. “I’m very positive and convinced that together we will deliver today,” European Commission President Ursula von der Leyen told reporters Tuesday, hours before a meeting in Brussels with US President Joe Biden.
“Today’s announcement resolves a long standing trade irritant in the US-EU relationship,” Tai said.
