{"id":115688,"date":"2021-03-05T18:26:13","date_gmt":"2021-03-05T18:26:13","guid":{"rendered":"https:\/\/precoinnews.com\/?p=115688"},"modified":"2021-03-05T18:26:13","modified_gmt":"2021-03-05T18:26:13","slug":"u-s-eu-to-suspend-tariffs-in-effort-to-resolve-boeing-airbus-subsidy-dispute","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/u-s-eu-to-suspend-tariffs-in-effort-to-resolve-boeing-airbus-subsidy-dispute\/","title":{"rendered":"U.S., EU to suspend tariffs in effort to resolve Boeing-Airbus subsidy dispute"},"content":{"rendered":"<ul>\n<li>The U.S. and EU have agreed to a four-month suspension of tariffs stemming from a 17-year-old aircraft subsidy dispute.<\/li>\n<li>The agreement is an effort to resolve the long-running trans-Atlantic dispute.<\/li>\n<li>The U.S. and U.K. on Thursday announced a similar agreement.<\/li>\n<\/ul>\n<p>The U.S. and the European union will suspend tariffs for four months tied to a long-running dispute over illegal subsidies for Boeing and Airbus, the president of the European Commission said Friday.<\/p>\n<p>The agreement is step toward resolving the 17-year dispute that has led retaliatory tariffs on billions of dollars of goods affecting a range of exports from both sides of the Atlantic. It comes a day after the U.S. and U.K. also agreed to a four-month pause on tariffs tied to the dispute.<\/p>\n<p>European Commission President Ursula von der Leyen said she spoke with U.S. President Joe Biden about the issue by phone on Friday.<\/p>\n<p>&quot;We both committed to focus on resolving our aircraft disputes, based on the work of our respective trade representatives,&quot; she said in a statement. &quot;This is excellent news for businesses and industries on both sides of the Atlantic, and a very positive signal for our economic cooperation in the years to come.&quot;<\/p>\n<p>The White House said Biden and von der Leyen discussed trans-Atlantic cooperation to help stop the spread of Covid-19, measures to improve the economy, climate change and other issues.<\/p>\n<p>Progress toward a resolution in the dispute comes as a relief to Airbus and Boeing, which are both struggling with weak travel and jetliner demand because of the Covid-19 pandemic.<\/p>\n<p>&quot;Airbus welcomes the decision to suspend tariffs in order to allow negotiations to take place,&quot; the manufacturer said in a statement. &quot;We support all necessary actions to create a level-playing field and continue\u00a0to support a negotiated settlement of this long-standing dispute in order to avoid lose-lose tariffs.&quot;<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/03\/05\/us-eu-to-suspend-tariffs-in-effort-to-resolve-boeing-airbus-trade-dispute.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. and EU have agreed to<\/p>\n","protected":false},"author":3,"featured_media":115687,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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