The two powers have been lifting their mutual sanctions for five years. During that time, US Trade Ambassador Katherine Toy said during a visit to Brussels by President Joe Biden that they would seek a solution to the subsidies already given to Boeing and Airbus.
The EU and the United States have accused each other of unfairly supporting their aircraft manufacturers for years. According to Europeans, Washington illegally supports Boeing and Airbus because Germany, France, Spain and the United Kingdom jointly own and receive illegal subsidies, according to the United States.
For example, in an unprecedented tie-for-dot policy on both sides, imports were levied on French wine and American whiskey. According to Tai, this involved a total of 11.5 billion euros (approximately 9.5 billion euros).
In March, shortly after the inauguration of new President Joe Biden, both sides suspended their sanctions for four months. That period has now been extended to five years, Tai said. “This announcement addresses a long-standing trade annoyance in US-European relations,” Tai said.
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