U.S. and EU resolve 17-year Boeing-Airbus trade dispute
The United States and European Union said Tuesday they have resolved a 17-year-long fight over aircraft subsidies, agreeing to suspend tariffs for five years stemming from the Boeing–Airbus dispute.
“This meeting has started with a breakthrough on aircraft,” said European Commission President Ursula von der Leyen, who met with President Joe Biden at a U.S.-EU summit in Brussels. “This really opens a new chapter in our relationship because we move from litigation to cooperation on aircraft — after 17 years of dispute.”
U.S. trade representative Katherine Tai said during a videocall Tuesday that: “Today’s announcement resolves a longstanding trade irritant in the U.S.-Europe relationship.”“Instead of fighting with one of our closest allies, we are finally coming together against a common threat,” she added, mentioning China.