EU, U.S. Agree to Five-Year Truce in Boeing-Airbus Trade Dispute
- Accord marks progress in ending Trump’s trade war with Europe
- The conflict saw tariffs levied on $11.5 billion of exports
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The U.S. and the European Union agreed to extend a tariff truce for five years, parking a dispute over aircraft subsidies given to Airbus SE and Boeing Co. that saw the allies impose duties on $11.5 billion of each other’s exports.
U.S. Trade Representative Katherine Tai, speaking to reporters in Brussels on Tuesday, said the tariffs would remain suspended as long as the terms of the agreement are upheld and while they work on addressing issues including outstanding subsidies already paid.