U.S., EU resolve 17-year-long conflict over aircraft subsidies, suspending tariffs for 5 years
Updated: 2021-06-16 09:53:06 KST
The U.S. and the EU have resolved their years-long conflict over Boeing-Airbus subsidies, suspending for five years a Trump-era tariff that fractured relations.
They will remove taxes on over 11 billion U.S. dollars of goods like wine, cheese and tractors for the next five years.
Meeting with President Biden Tuesday, European Commission President Ursula von der Leyen said it opens a new chapter in their ties, from litigation to cooperation.
This is seen as the U.S. trying to keep China in checkwith the U.S. Trade Representative saying the U.S. and EU are "together against a common threat."