The European Union and the United States resolve the plane dispute and the sanctions suspended for 5 years

This is good news for the multibillion-euro commodity trade that has been hit or threatened by additional tariffs on products ranging from European wine to tobacco and American spirits.

looking for a solution

Over the next five years, the two superpowers will seek to resolve, among other things, subsidies that have already been paid to Boeing and Airbus, US Trade Envoy Catherine Taye said in Brussels during President Joe Biden’s visit to the headquarters of the European Union.

The European Union and the United States have accused each other for years of unfairly favoring aircraft manufacturers. They have imposed billions of euros and dollars in punitive measures against each other because Washington, according to the Europeans, illegally subsidizes Boeing and Airbus, jointly owned by Germany, France, Spain and the United Kingdom, and has received illegal subsidies from European countries, according to Us.

Sanctions have already been suspended

In March, shortly after new President Joe Biden took office, the two sides suspended their sanctions for four months in the hope of reaching an agreement on a short-term solution. That period has now been extended by five years, Tai said.

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