The European Union has indefinitely extended the suspension of tariffs imposed as part of a long-standing trade dispute with the United States over aircraft manufacturers Boeing and Airbus. This was reported by Bloomberg, writes UNN.
Details
According to agency sources, the decision provides for an indefinite extension of the temporary tariff suspension. The European Commission noted that negotiations with the United States to resolve the dispute are ongoing.
Negotiations between the EU and the US
European Commission spokesperson Olof Gill stated that Brussels expects to ensure stability and predictability in trade relations with the US.
Negotiations with the US are ongoing to ensure stability and certainty, as well as to continue the suspension of countermeasures from both sides
The dispute has lasted over 20 years
The trade conflict between the US and the EU began back in 2004, when Washington appealed to the World Trade Organization over state support for the European aircraft manufacturer Airbus.
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In response, the European Union filed its own lawsuit, arguing that the American company Boeing received illegal advantages through state subsidies, as well as US space and military contracts.
Before the temporary truce was reached five years ago, the parties imposed mutual tariffs on goods worth a total of about $11.5 billion.