World

Boeing-Airbus trade row set to end after 17 years

June 16, 2021 5:22 am

The US and the EU have agreed a truce in a 17-year trade dispute over subsidies for Boeing and Airbus.

Under the agreement, both sides will remove taxes on $11.5bn (£8.2bn) of goods, including wine, cheese and tractors, for five years.

Those tariffs, imposed by both sides as punishment in the escalating dispute, had already been suspended in March while they tried to resolve matters.

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In March the US suspended tariffs on UK imports arising from the dispute.

US President Joe Biden had a summit with European Union (EU) leaders on Tuesday, where he is trying to bolster support for his more assertive stance towards Russia and China, and move away from Trump-era trade rows.