The EU and the United States are suspending billions of dollars on each other’s products for four months. The powers seem to be finally coming together in the conflict over illegal government aid to aircraft manufacturers Boeing and Airbus, which have been going on for nearly seventeen years.
Washington has accused European countries of favoring Airbus with loans. The European Union, for its part, felt that Boeing favored favorable tax rules. Additional trade fees were imposed on both sides in response to the dispute.
In November, Brussels imposed import duties on about $ 4 billion worth of US products. The US administration of President Donald Trump has previously introduced tariffs on $ 7.5 billion worth of European products, including cheese, olives and whiskey.
The suspension allows both sides to focus on resolving a long-standing dispute. “This is an important step. It marks a ‘restoration’ in our relationship with our largest and most economically important partner,” said European Trade Commissioner Valdis Dombrovsky.
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