June 16, 2021 — The United States and the European Union have resolved a trade dispute that had resulted in a ramping up of tariffs, including on some seafood products.
The quarrel, dating back to 2004, centered around subsidies for European airplane-maker Airbus and U.S. plane manufacturer Boeing. The dispute was brought before the World Trade Organization, which ruled in October 2020 that each side could impose billions of dollars in tariffs.
June 16, 2021 — On Tuesday the United States and European Union announced a cooperative framework to address the large civil aircraft disputes which have been raging since 2004. As part of the agreement, the U.S. and EU have agreed to move away from “past confrontation in pursuit of a cooperative future by suspending the tariffs related to this dispute for five years.”
“After years of bitter litigation and weeks of intense diplomacy, we have reached a deal on a set of high-level principles that resets U.S.-EU engagement in the large civil aircraft industry,” U.S. Trade Representative Katherine Tai said in a press release. “We are strongest when we work with our friends and allies, and the partnership with European Commission Executive Vice President Valdis Dombrovskis is a demonstration of that principle in action.”