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Washington and Brussels agreed to freeze punitive tariffs imposed in the conflict over subsidies for rival jet makers Boeing and Airbus. This was announced by the president of the European Commission, Ursula von der Leyen, after a telephone conversation with the president of the United States, Joe Biden, on Friday.
– This is great news for companies and industries on both sides of the Atlantic, and a very positive sign for our economic collaborations in the coming years, he says.
The freezing of punitive duties initially valid for four months.
The 16-year-old trade dispute began when the United States showed its dissatisfaction with the EU’s support for the French aircraft manufacturer Airbus. The EU, in turn, protested against US support for US aid to Boeing.
The conflict continued with the imposition of punitive duties, not only against the respective aircraft manufacturers, but also on a number of other assets. From the United States on European products such as wine, cheese and olive oil. The EU has responded with tariffs on US products such as tobacco, spirits and chocolate.
The many disputes of the customs war have not infrequently been resolved within the World Trade Organization (WTO). Disputes from which the EU and the US have alternately emerged victorious.
