The US and EU agree to freeze duties

The restrictive measures were imposed as part of a dispute between Boeing and Airbus.

The United States and the European Union announced the suspension of mutual duties imposed in connection with the dispute between the aircraft manufacturers Boeing and Airbus.

Recall that this dispute has been going on for sixteen years. Earlier, the United States accused Airbus of receiving hidden subsidies from the EU and increased tariffs on European imports worth $ 7.5 billion annually. The EU also imposed duties on some American goods.

The duties will be frozen for four months and will apply both to the tax on imports from the EU to the US for $ 7.5 billion and duties imposed on exports from the US to the EU for $ 4 billion

In a joint statement, Brussels and Washington stressed that the four-month suspension would cover all duties that have arisen due to lengthy legal proceedings within the World Trade Organization over subsidies for Airbus and Boeing.

The statement emphasizes that this measure will focus efforts on resolving the dispute. It will also allow the parties to focus on eliminating unfair competition from countries with non-market economies, particularly China.

The decision to freeze the duties came after a telephone conversation between US President Joe Biden and the European Commission head, Ursula von der Leyen.

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Author: Ivan Maltsev
The study of political and social problems of different countries of the world. Analysis of large companies on the world market. Observing world leaders in the political arena.
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Ivan Maltsev

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