On June 15, the United States and the European Union (EU) reached an agreement to settle a 17-year trade dispute over subsidies to Airbus and Boeing, a move that could improve transatlantic relations. .
The US-EU reached a historic agreement to settle a 17-year dispute involving Airbus and Boeing. (Source: Getty Images) US officials confirmed that the country and the EU had reached an agreement to end a dispute over government subsidies to the world’s top commercial aircraft manufacturers at the US Summit- EU in Brussels. The two sides agreed to suspend the tariffs for a period of five years. US Trade Representative Katherine Tai said the deal “resolves a longstanding trade issue in the US-EU relationship”. “Instead of fighting one of our closest allies, we are ultimately fighting a common threat together,” Ms. Tai said. Under the agreement between Airbus-Boeing, any passenger aircraft built in the future will not be allowed to receive subsidies from the government. In addition, these two allies also pledged to settle another dispute related to imported aluminum and steel products. According to the CNN The fact that the EU and the US reached an agreement to end the dispute and impose a “eaten patty” tax for the past 17 years is a positive signal for bilateral cooperation under President Joe Biden. Immediately after the news was announced, shares of Airbus group rose 1.4% on the Paris exchange. Meanwhile, shares of Boeing have not changed much. (according to CNN)
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