By Deirdre Tynan • 16 June 2021 • 11:39
Airbus and Boeing have been locked in the dispute since 2004.
The US and EU have settled a long running dispute over subsidies for Boeing and Airbus. Britain, which produces Airbus parts, is expecting a similar deal with the US will be reached separately today.
The truce comes on the back of an agreement in March to suspend tariffs on more than 10 billion worth of goods including cheese and wine from the EU and American tobacco and spirits.
“Grounding the Airbus-Boeing dispute delivers a major confidence boost for EU-US relations,” EU trade chief Valdis Dombrovskis said on June 15 after an EU-US summit with President Joe Biden.
US Trade Representative Katherine Tai is due to meet the UK’s International Secretary Liz Truss on June 16.
“The deal includes a commitment for concrete joint collaboration to confront the threat from China’s ambitions to build an aircraft sector on non-market practices,” Tai said of the resolution with the EU.
Boing said in a statement that it welcomed an end to the 17-year-long stand-off.
“Boeing welcomes the agreement by Airbus and the European Union that all future government support for the development or production of commercial aircraft must be provided on market terms.
“The understanding reached today commits the EU to addressing launch aid, and leaves in place the necessary rules to ensure that the EU and United States live up to that commitment, without requiring further WTO action. Boeing will fully support the US Government’s efforts to ensure that the principles in this understanding are respected,” the company added.
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Deirdre Tynan is an award-winning journalist who enjoys bringing the best in news reporting to Spain’s largest English-language newspaper, Euro Weekly News. She has previously worked at The Mirror, Ireland on Sunday and for news agencies, media outlets and international organisations in America, Europe and Asia. A huge fan of British politics and newspapers, Deirdre is equally fascinated by the political scene in Madrid and Sevilla. She moved to Spain in 2018 and is based in Jaen.
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