EU and the USA suspend tariffs in Boeing-Airbus case
The American company Boeing and the European company Airbus mutually agreed to put an end to the commercial dispute that kept them at odds for years
The suspension, for five years, of all retaliation tariffs was mutually agreed by the US aircraft manufacturers Boeing and the European company Airbus. The news was released within the framework of the face-to-face summit between the European Union and the United States, which was held this Tuesday in Brussels.
The commercial dispute that has kept the two giants of world aviation at odds for 17 years comes to an end with this decision. Both parties agreed to suspend the tariffs with the idea of not reestablishing these sanctions.
The governments of the United States have traditionally preferred to deal separately with each of the member countries of the European Union. However, in his visit to Brussels Joe Biden was received by the European authorities, the president of the Commission, Ursula von der Leyen and the president of the Council, Charles Michel.
Both, the EU and the United States, are committed to working together to address China’s economic and technological expansion in the aeronautical sector. According to the joint statement, published after the meeting, both partners agree to settle, before the end of the year, their differences on the tariffs that Trump imposed on European steel and aluminum.
In the statement, the authorities are also responsible for ensuring “the viability of our steel and aluminum industries and dealing with excess capacity.” As well as the convergence of their views on the need for a major reform of the World Trade Organization (WTO) and a more modernized multilateral trading system, adapting it to the needs and difficulties posed by the digitization of economies.
In the statement, they also refer to the creation of the Trade and Technology Council, which will aim to be a body for frequent and systematic political consultations that allows technological advances for a greater convergence between the two economies.
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