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It’s time for a truce in the Airbus-Boeing dispute that has pitted Washington and Brussels against the World Trade Organization (WTO) for over 17 years.
Tuesday, June 15, marks the beginning of a five-year truce in the Airbus-Boeing dispute, by mutual agreement between the United States and the European Union. The punitive tariffs imposed in the dispute have been suspended for five years.
“This agreement opens a new chapter in our relationship, as we move from a dispute to cooperation on aeronautics“, said Ursula von der Leyen, President of the European Commission.
This agreement indicates the easing of tensions between the two parties, which were accentuated under the Trump administration, with an escalation in 2019 when the United States had been authorized by the WTO to tax nearly 7.5 billion dollars a year of imported European goods or services.
It was in October 2020 that the EU decided to counterattack, authorized by the WTO to impose tariffs on nearly 4 billion dollars of goods from American exports. “America is back. It is in the absolute interest of the United States to have a great relationship with NATO and the EU“, said Joe Biden alongside Ursula von der Leyen and Charles Michel, the President of the European Council.
This announcement comes as US President Joe Biden is visiting Brussels for the first meeting between the EU and the US since 2017. With the intervention of this agreement, Biden expresses his desire to maintain good relations with his allies, while competition with China is intensifying.
It was a few days before his meeting with the Russian head of state Vladimir Putin that the Biden administration wanted to send the message that “the United States and Europe are united“. Biden was also keen to reaffirm his views on Chinese trade policy.
“We agreed to work together to challenge and counter China’s non-trade practices in the sector, which give Chinese companies an unfair advantage“, he insisted. “This is a model we can build on to address other challenges posed by China’s economic model“.
Ursula von der Leyen later said that the European Union countries are “clearly united in their approach to their largest neighbor“. French President Emmanuel Macron welcomed the announcement, which he congratulated on Twitter.
Bonne nouvelle pour nos viticulteurs !
Avec l’accord décidé sur le litige Airbus – Boeing, les droits de douane américains, notamment sur le vin français, sont levés. Voilà les premiers résultats de notre nouvelle relation avec les États-Unis. Voilà la coopération efficace.— Emmanuel Macron (@EmmanuelMacron) June 15, 2021
The decision is very good news for French winegrowers, who have been particularly affected by these taxes. “We are relieved because it gives visibility to companies“, said Nicolas Ozanam, general delegate of the Federation of exporters of wines and spirits, interviewed by AFP.
“At the same time, we have not settled the case definitively. We can only call on the U.S. and European authorities to take advantage of this momentum and this newfound cooperation to continue efforts and close this conflict definitively“, he added.
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It’s time for a truce in the Airbus-Boeing dispute that has pitted Washington and Brussels against the World Trade Organization (WTO) for over 17 years.
Tuesday, June 15, marks the beginning of a five-year truce in the Airbus-Boeing dispute, by mutual agreement between the United States and the European Union. The punitive tariffs imposed in the dispute have been suspended for five years.
“This agreement opens a new chapter in our relationship, as we move from a dispute to cooperation on aeronautics“, said Ursula von der Leyen, President of the European Commission.
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It’s time for a truce in the Airbus-Boeing dispute that has pitted Washington and Brussels against the World Trade Organization (WTO) for over 17 years.
Tuesday, June 15, marks the beginning of a five-year truce in the Airbus-Boeing dispute, by mutual agreement between the United States and the European Union. The punitive tariffs imposed in the dispute have been suspended for five years.
“This agreement opens a new chapter in our relationship, as we move from a dispute to cooperation on aeronautics“, said Ursula von der Leyen, President of the European Commission.
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