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Airbus-Boeing: US-EU agreement on suspension of mutual obligations

International trade

The United States has already vowed to suspend retaliation for UK products involved in a dispute over subsidies for aircraft manufacturers.

The United States suspends obligations for UK products

The United States has already vowed to suspend retaliation for UK products involved in a dispute over subsidies for aircraft manufacturers.

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The European Union and the United States have agreed to suspend billions of dollars in reciprocal tariffs, easing 17 years of Atlantic controversy over aid to the world’s largest aircraft manufacturers. The confirmation came after a phone call with US President Joe Biden from EU Commission President Ursula van der Leyen. “As a fresh start for our partnership, we have decided to suspend all charges related to the Airbus-Boeing dispute over aircraft and non-aircraft for an initial period of 4 months.

Bloomberg writes that the suspension is four months and could begin as early as today. The struggle for aid to European Airbus and US Boeing led to tariffs approved by the World Trade Organization, which totaled $ 11.5 billion and affected consumption of industrial, agricultural and other commodities.

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The EU imposed a $ 4 billion tax on US products in November, a year after US President Donald Trump’s administration ignored European demands to avoid charging $ 7.5 billion in imports.

The United States has already promised to end retaliation for UK products involved in the airline subsidy dispute – good news for post-Brexit UK. The tariff suspension will last four months, which will help “negotiate a balanced conflict,” the UK government said in a statement. The result is that products such as Scotch whiskey, biscuits and frozen cream can be imported from Great Britain into the United States without being charged an additional 25%.

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